Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 55

Donegan's Lawn Care Service began operations in July 2015.he company uses the following general ledger accounts:

The company engaged in the following transactions during its first month of operations:

a.ecord each of the above transactions in general journal form.nclude a brief explanation of the transaction as part of each journal entry.
b.ost each entry to the appropriate ledger accounts (use the T account format illustrated in Exhibit 3-8 on page 110).
c.repare a trial balance dated July 31, 2015.
d.xplain why the Retained Earnings account has a zero balance in the trial balance.