Company Name: Green Thumb Landscaping Services Inc.
Background: Green Thumb Landscaping Services Inc. is a Canadian company that provides a variety of landscaping services including lawn maintenance, tree trimming, garden design and installation, and seasonal clean-up. The company is based in Vancouver, British Columbia, and serves both residential and commercial clients throughout the Greater Vancouver area.
Business Number: 987654321 RT0001
Address: 789 Blossom Drive, Vancouver, BC, V5Z 3A9
Email: info@greenthumblandscaping.ca
Phone Number: (604) 123-4567
Major Source of Revenue: Revenue primarily comes from contracted landscaping services and one-off projects.
Opening Trial Balance as of January 1, 2023:
able[[Account,Debit (CAD),Credit (CAD)],[Cash,50,000,],[Accounts Receivable,15,000,],[Equipment,70,000,],[Accounts Payable,,10,000],[Loan Payable,,50,000],[Common Stock,,50,000],[Retained Earnings,,25,000]]
Transactions for January 2023:
January 5: Received a payment of $10,000 from a residential client, Mr. John Doe, for an outstanding invoice. To record this transaction, go to Customers & Sales > Receive Money. Select John Doe in the Received From field and enter the payment amount of $10,000. In the Apply to Invoices tab, select the relevant invoice and enter the payment amount again, then save the transaction.
January 8: Issued an invoice of $8,000 for a garden installation service provided to a residential client, Mrs. Mary Smith. Record this by going to Customers & Sales > Quotes and Invoices. Fill in the details, then save the transaction.
January 10: Purchased new lawn mowing equipment for $5,000 on account from "Landscaping Supplies Ltd." To record this transaction, go to Vendors & Purchases > Enter Bills. Fill in the Vendor ID, Date, and Amount Due, then save the transaction.
January 15: Paid salaries of $3,500 to employees. Record this by going to Vendors & Purchases > Write Checks. Select Payroll Expenses as the expense account, then save the transaction.
January 20: Received a payment of $8,000 from Mrs. Mary Smith for the invoice issued on January 8. Follow the same steps as the payment received on January 5.
January 22: Paid $1,500 for monthly vehicle expenses to "VanCity Auto Services". Record this by going to Vendors & Purchases > Write Checks. Select VanCity Auto Services as the vendor and Vehicle Expenses as the expense account, then save the transaction.
January 27: Paid $5,000 to "Landscaping Supplies Ltd." for the lawn mowing equipment purchased on January 10. Go to Vendors & Purchases > Payments. Select Landscaping Supplies Ltd. as the vendor, enter the amount of $5,000, then save the transaction.
January 29: Issued an invoice of $12,000 for a seasonal clean-up service provided to a commercial client, "Vancouver Corporate Towers". Record this by going to Customers & Sales > Quotes and Invoices. Fill in the details, then save the transaction.
January 30: Paid office rent of $2,000 to "VanCity Realty". Record this by going to Vendors & Purchases > Write Checks. Select VanCity Realty as the vendor and Rent Expense as the expense account, then save the transaction.
