The Following Events Apply to Bowman's Cleaning Service for Year

question 52

Essay

The following events apply to Bowman's Cleaning Service for Year 1.Issued stock for $44,000 cashOn May 1, paid $27,000 for one year's rent in advancePurchased on account $4,500 of supplies to be used in the businessPerformed services of $68,400 and received cashAt December 31, adjusted the records for the expired rentAt December 31, an inventory of supplies showed that $660 of supplies were still unusedRequired:Record the events in general ledger accounts under an accounting equation. (Note: There is no need to provide appropriate account titles for the Retained Earnings amounts in the last column of the table.)

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