The Balances in the Ledger of Good Landscape Services as of January

question 77

Essay

The balances in the ledger of Good Landscape Services as of January 31 before adjustments are as follows:​ Adjustment data are as follows: supplies on hand, January 31, $900; insurance expired for January, $1,100; depreciation on equipment for January, $1,600; salaries accrued, January 31, $1,650.
(a)Prepare a 10-column end-of-period spreadsheet for Good Landscape Services for January.
(b)On the basis of the work sheet in
(a), present the following in good order:
(1) income statement,
(2) statement of owner's equity
(assume no additional owner investments were made during the month), and
(3) balance sheet.
(c)On the basis of the work sheet in
(a) journalize the closing entries as of January 31.

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Definitions:

Angiosperm

A group of plants that have flowers and produce seeds enclosed within a carpel; the largest group of plants on Earth.

Carpels

The female reproductive organ of a flower, consisting of an ovary, a stigma, and usually a style.

Mature Ovary

The part of the female reproductive organ in angiosperms that has completed its development phase, typically containing the ovules and ready for fertilization.

Stigmatized Pollen Grain

a pollen grain that has been rejected or marked negatively by stigma cells, potentially due to species incompatibility in plant reproduction.