Biology Forums - Study Force

Given the following transactions in the month of July for Kootenay Outdoor Adventures, prepare journal entries; and, a trial balance and balance sheet  as of July 31, 2013.

a)  Owner, Bill Thompson invested $35,000 cash and equipment with a value of $67,500 into the business.
b)  Purchased supplies on account, $250.
c)  Rented office space paying one month's rent, $950.
d)  Performed guide service on account, $4,500.
e)  Purchased a truck by paying $4,000 cash and signing a promissory note for the balance of $29,800.
f)  Performed guiding service and immediately collected $2,900 cash.
g)  Owner, Bill Thompson withdrew $900 for personal use.

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