Here are what your journal entries should be:

Mar 1 Debit Cash and Credit Common Stock for $72,000

Mar 1 Debit Rent Expense and Credit Cash for $4,500

Mar 1 Debit Prepaid Insurance and Credit Cash for $3,300

Mar 7 Debit Supplies and Credit Accounts Payable - Paarkview Company for $900

Mar 10 Debit Salaries Expense and Credit Cash for $2,200

Mar 14 Debit Equipment for $9,000 Credit Cash for $1,500 Credit Accounts Payable - Hammond Company $7,500

Mar 15 Debit Cash and Credit Landscaping Revenue for $4,896

Mar 19 Debit Accounts Payable - Parkview Company and Credit Cash $450

Mar 31 Debit Cash and Credit Landscaping Revenue for $5,304

Mar 31 Debit Cash Dividends and Credit Cash for 1,000

Your Debits and Credits should equal $90,150

Your payment to Hammond Company will not be recorded until 4/1 also check your math i.e. additions and subtractions as your account balances may be off.

I have done this same exercise and the total Debits and Credits I came up with were $103,550 which also matches what the professor hinted they should be but he also said he had not verified the totals.... Or are we making a big mistake somewhere?
Debits Credits
72,000 72,000
4,500 4,500
3,300 3,300
900 900
2,200 2,200
9,000 1,500
7,500
4,896 4,896
450 450
5,304 5,304
1,000 1,000
103,550 103,550
Question 2
Answerer 1
Cash (Dr.)
Repair Supplies (Dr)
Prepaid Insurance (Dr)
Repair Equipment (Dr)
Accounts Payable (Cr)
Bicycle Repair Revenue (Cr)
Store Rent Expense (Dr)
Utility Expense (Dr)
Common Stock (Cr)
Dividends (Dr)

Simple create two columns, a debit and a credit, then add the balance to each appropriate account. Once you are done, total all the accounts on the debit side and do the same for the credit. Both sides should balance or have the same amount. I would have done them for you, but I can't decipher the figures in the t-accounts.

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