Hello, I had to reupload this question because the answers were formatted incorr

Question

Hello, I had to reupload this question because the answers were formatted incorrectly. Can someone please help add the entries in the correct way they should be, in the same format posted as the balance sheet, general ledger, and general journal? The way they need to be answered is shown by the last 3 images, in that kind of format. Thank you. First 3 images are the instructions and account names, second 3 images are of the general journal, general ledger, and balance sheet.

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B&L; Landscapes, Inc. Mini Practice Part 2 Bill Graham and Larry Miller incorporated B&L; Landscapes, Inc. on July 1, 2014. The business consists of lawn care and sprinkler system installations. In addition, they also sell two types of fertilizer. Bill and Larry are concerned about ensuring a steady supply of high-quality PVC pipe for the sprinkler installations jobs they do and have come up with a plan to issue bonds to several of their family members. These funds will enable them to acquire a significant portion of the stock of a local PVC manufacturer. At the end of July, 2015, the company has the following adjusted trial balance B&L; Landscapes, Inc Adjusted Trial Balance July 31, 2015 DEBIT $ 47,750 Cash Accounts Receivable9,500 Allowance for Doubtful Accounts Prepaid Insurance Inventory Land Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Accounts Payable Notes Payable Preferred Stock Common Stock Retained Earnings Tota 400 1,700 59,000 8,000 25,000 1,350 42,500 11,500 45,000 5,000 30,000 92,700 Not included in the adjusted trial balance are the following transactions that occur on July 31 2015 B&L; Landscapes, Inc. issued $20,000 worth of 5%, 10 year bonds at face value B&L; Landscapes, Inc. purchased 30% of the outstanding common stock of Crestline Pipe Inc. for $40,000 2.

Explanation / Answer

Part-1 Journal Entries for Bond Issuance and Investment Transaction Part-2: Posting of Entries in General ledger Journal Entry In the books of Bell Company Cash Account Account No. 101 Date Account Desription , Title Debit Credit Date Description Debit Credit Balance 31/07/2015 Cash $20,000.00 31/07/2015 Balance B/D $47,750.00 $47,750.00 Bond Payable $20,000.00 31/07/2015 Bond Payable $20,000.00 $67,750.00 To Record Issue of 5% , 10 Year Bond 31/07/2015 Investment $40,000.00 $27,750.00 31/07/2015 Stock Investment 40000 Bond Payable Account, Account No:250 Cash 40000 Date Description Debit Credit Balance To record Investment in Stock of Crestline Pipe inc. 31/07/2015 cash $20,000.00 20000 Part-3: Classified Balance for B&L Land Scapessheet Stock Investment Account Account No. 145 B&L Landscapes Inc. Date Description Debit Credit Balance Balance Sheet for 31 July 2015 31/07/2015 Cash $40,000.00 $40,000.00 Assets Current Asset Cash $27,750 Part-4: Journal Entry for Dividend Recevied Net Account Receivable ( $9500-$400) $9,100 Journal Entry In the books of Bell Company Inventory $59,000 Date Account Desription , Title Debit Credit Prepaid Insurance $1,700 15/12/2015 Cash $600.00 Total Current Asset $97,550 Dividend Received $600.00 To Record Receved of Dividend($2000*30%) Property, Plant & Equipment Land $8,000 Building Gross $25,000 Less: Depreciation -$1,350 $23,650 Building Net Equipment , Gross $42,500 Less: Depreciation -$7,500 $35,000 Equipment , net Stock Investment $40,000 Total Asset $204,200 Liability & Equity Current Liabilities Account Payable $11,500 Notes Payable $45,000 $56,500 Bond Payable $20,000 Total Liabilities $76,500 Share holder Equity Preferred Stock $5,000 Common Stock $30,000 Retained Earning $92,700 Total Equity $127,700 Total Liability & Equity $204,200

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