Almutasem Co., is providing the landscaping services through his company. Completed the following transactions during March 2015, the company first month of operations.

PART (2): ACCOUNTING CYCLE

Almutasem Co., is providing the landscaping services through his company. Completed the following transactions during March 2015, the company first month of operations.

Mar 1  The company invested $65,000 of cash to start the business.

2       Purchased Office Supplies of $2,500 on account.

5       Paid $25,000 cash to purchase land.

9       Performed Services for customers and received Cash $15,000.

12    Paid $1,500 on account payable.

15  Performed services for customers on account $30,000.

26    Received $22,500 cash from a customer on account.

27    Paid salaries $4,000; rent $5,000 and utilities expenses $7,500.

28    Collected $2,000 in advance for services to be provided later.

29    Prepaid insurance $1,200.

30    Paid cash dividends $4,500.

Required:

1.     Prepare journal entries. 12 marks

2.     T – Accounts, for all accounts appear in the journal. 18.5 marks

3.     Trial Balance. 8.5 marks

  [39 marks]