Problem 4-8A Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Du
ID: 2458896 • Letter: P
Question
Problem 4-8A
Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. During July, the following transactions were completed.
July 1 Issued 16,968 shares of common stock for $16,968 cash.
1 Purchased used truck for $12,968, paying $2,055 cash and the balance on account.
3 Purchased cleaning supplies for $949 on account.
5 Paid $1,800 cash on a 1-year insurance policy effective July 1.
12 Billed customers $4,850 for cleaning services.
18 Paid $1,060 cash on amount owed on truck and $505 on amount owed on cleaning supplies.
20 Paid $2,226 cash for employee salaries.
21 Collected $1,666 cash from customers billed on July 12.
25 Billed customers $2,685 for cleaning services.
31 Paid $363 for maintenance of the truck during month.
31 Declared and paid $631 cash dividend.
Journalize the July transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous question.)
Cash
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Accounts Receivable
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Supplies
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Prepaid Insurance
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Equipment
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Accounts Payable
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Common Stock
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Dividends
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Service Revenue
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Maintenance and Repairs Expense
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Salaries and Wages Expense
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare a trial balance at July 31.
CLEAN WINDOW WASHING INC.
Trial Balance
July 31, 2014
Debit
Credit
$
$
$
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
(1) Services performed but unbilled and uncollected at July 31 were $1,875.
(2) Depreciation on equipment for the month was $184.
(3) One-twelfth of the insurance expired.
(4) An inventory count shows $320 of cleaning supplies on hand at July 31.
(5) Accrued but unpaid employee salaries were $437.
No.
Account Titles and Explanation
Debit
Credit
1.
2.
3.
4.
5.
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Post adjusting entries to the T-accounts.
Cash
7/1
16,968
7/1
2,055
7/21
1,666
7/5
1,800
7/18
1,565
7/20
2,226
7/31
363
7/31
631
7/31 Bal.
9,994
Accounts Receivable
7/12
4,850
7/21
1,666
7/25
2,685
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Supplies
7/3
949
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Prepaid Insurance
7/5
1,800
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Equipment
7/1
12,968
7/31 Bal.
12,968
Accumulated Depreciation-Equipment
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Accounts Payable
7/18
1,565
7/1
10,913
7/3
949
7/31 Bal.
10,297
Salaries and Wages Payable
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Common Stock
7/1
16,968
7/31 Bal.
16,968
Dividends
7/31
631
7/31 Bal.
631
Service Revenue
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/12
4,850
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/25
2,685
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Maintenance and Repairs Expense
7/31
363
7/31 Bal.
363
Supplies Expense
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Depreciation Expense
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Insurance Expense
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Salaries and Wages Expense
7/20
2,226
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare an adjusted trial balance.
CLEAN WINDOW WASHING INC.
Trial Balance
July 31, 2014
Debit
Credit
$
$
$
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the income statement for July.
CLEAN WINDOW WASHING INC.
Income Statement
For the Month Ended July 31, 2014
Expenses
Revenues
Total Expenses
Total Revenues
Net Income / (Loss)
Retained Earnings, July 1
Retained Earnings, July 31
Dividends
$
Expenses
Revenues
Total Expenses
Total Revenues
Net Income / (Loss)
Retained Earnings, July 1
Retained Earnings, July 31
Dividends
$
Expenses
Revenues
Total Expenses
Total Revenues
Net Income / (Loss)
Retained Earnings, July 1
Retained Earnings, July 31
Dividends
Expenses
Revenues
Total Expenses
Total Revenues
Net Income / (Loss)
Retained Earnings, July 1
Retained Earnings, July 31
Dividends
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare a retained earnings statement for July. (List items that increase retained earnings first.)
CLEAN WINDOW WASHING INC.
Retained Earnings Statement
For the Month Ended July 31, 2014
Expenses
Revenues
Total Expenses
Total Revenues
Net Income / (Loss)
Retained Earnings, July 1
Retained Earnings, July 31
Dividends
$
Add
Less
:
Expenses
Revenues
Total Expenses
Total Revenues
Net Income / (Loss)
Retained Earnings, July 1
Retained Earnings, July 31
Dividends
Add
Less
:
Expenses
Revenues
Total Expenses
Total Revenues
Net Income / (Loss)
Retained Earnings, July 1
Retained Earnings, July 31
Dividends
Expenses
Revenues
Total Expenses
Total Revenues
Net Income / (Loss)
Retained Earnings, July 1
Retained Earnings, July 31
Dividends
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare a classified balance sheet at July 31. (List current assets in order of liquidity.)
CLEAN WINDOW WASHING INC.
Balance Sheet
July 31, 2014
Assets
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
Add
Less
:
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
$
Liabilities and Stockholders' Equity
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
Current Assets
Current Liabilities
Expenses
Intangible Assets
Long-term Investments
Long-term Liabilities
Net Income / (Loss)
Property, Plant and Equipment
Revenues
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Expenses
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Revenues
Total Stockholders' Equity
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Journalize closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
(To close revenue account)
(To close expense accounts)
(To close net income / (loss))
(To close dividends)
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Post closing entries and complete the closing process.
Cash
7/1
16,968
7/1
2,055
7/21
1,666
7/5
1,800
7/18
1,565
7/20
2,226
7/31
363
7/31
631
7/31 Bal.
9,994
Accounts Receivable
7/12
4,850
7/21
1,666
7/25
2,685
7/31
1,875
7/31 Bal.
7,744
Supplies
7/3
949
7/31
629
7/31 Bal.
320
Prepaid Insurance
7/5
1,800
7/31
150
7/31 Bal.
1,650
Equipment
7/1
12,968
7/31 Bal.
12,968
Accumulated Depreciation-Equipment
7/31
184
7/31 Bal.
184
Accounts Payable
7/18
1,565
7/1
10,913
7/3
949
7/31 Bal.
10,297
Salaries and Wages Payable
7/31
437
7/31 Bal.
437
Common Stock
7/1
16,968
7/31 Bal.
16,968
Retained Earnings
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Dividends
7/31
631
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Income Summary
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Service Revenue
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/12
4,850
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/25
2,685
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/31
1,875
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Maintenance and Repairs Expense
7/31
363
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Supplies Expense
7/31
629
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Depreciation Expense
7/31
184
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Insurance Expense
7/31
150
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
Salaries and Wages Expense
7/20
2,226
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/31
437
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
7/1
7/3
7/5
7/12
7/18
7/20
7/21
7/25
7/31
7/31 Bal.
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare a post-closing trial balance at July 31.
CLEAN WINDOW WASHING INC.
Post-Closing Trial Balance
July 31, 2014
Debit
Credit
$
$
$
$
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Explanation / Answer
Clean Window washing Inc $ $ Date Account Titles Dr Cr 1-Jul Cash $16,968 Common Stock $16,968 (Being cash received for the shares issued) 1-Jul Property Plant & Equipment (Truck ) 12968 Cash 2055 Accounts payable 10913 (Being purchase of truck, cash paid and balance is payble) 3-Jul Cleaing Supplies 949 Accounts payable 949 (Being supplies purchased) 5-Jul Prepaid Insurance 1800 Cash 1800 (Being cash paid for 1 year insurance) 12-Jul Accounts Receivable 4850 Cleaning Services 4850 (Being services perforrmed for the customer) 18-Jul Accounts payable (Truck) 1060 Accounts payable(Cleaning Supplies) 505 Cash 1565 (Being cash paid to creditors for asset and supplies) 20-Jul Salaries and Wages Expenses 2226 Cash 2226 (Being salaries paid in cash) 21-Jul Cash 1666 Accounts Receivable 1666 (Being cash received from customers) 25-Jul Accounts Receivable 2685 Cleaning Services 2685 (Being services perforrmed for the customer) 31-Jul Maintainence & Repair 363 Cash 363 (Being Cash paid) 31-Jul Dividend 631 Cash 631 (Being dividend declared and paid on the same date) Dr Cash A/c Cr $ $ Date Particulars Amount Date Particulars Amount 1-Jul Common stock $16,968 1-Jul Equipment (Truck) 2055 Accounts Receivable 1666 5-Jul Prepaid Insurance 1800 18-Jul Accounts payable (Truck) 1060 Accounts payable(Cleaning Supplies) 505 20-Jul Salaries and Wages Expenses 2226 31-Jul Maintainence & Repair 363 31-Jul Dividend 631 30-Sep Balance carried forward $9,994 Total $18,634 Total 18634 Dr Common StockA/c Cr $ $ Date Particulars Amount Date Particulars Amount 1-Jul Cash $16,968 31-Jul Balance carried forward $16,968 Total 16968 Total 16968 Dr Accounts payable A/c Cr $ $ Date Particulars Amount Date Particulars Amount 18-Jul Cash 1565 1-Jul Equipment (Truck ) 10913 3-Jul Cleaing Supplies 949 31-Jul Balance carried forward $10,297 Total 11862 Total 11862 Dr Equipment A/c Cr $ $ Date Particulars Amount Date Particulars Amount 1-Jul Cash 2055 Accoumts payable 10913 31-Jul Balance carried Forward 12968 Total 12968 Total 12968 Dr Accounts Receivable A/c Cr $ $ Date Particulars Amount Date Particulars Amount 12-Juliy Services Revenue 4850 21-Jul Cash 1666 25-Jul Services Revenue 2685 31-Jul Balance carried Forward 5869 Total 7535 Total 7535 Dr Supplies Expenses A/c Cr $ $ Date Particulars Amount Date Particulars Amount 3-Jul Accounts payable 949 31-Jul Transferred to Income Statement 949 Total 949 Total 949 Dr Salaries and Wages A/c Cr $ $ Date Particulars Amount Date Particulars Amount 20-Jul Cash 2226 31-Jul Transferred to Income Statement 2226 Total 2226 Total 2226 Dr Maintainence & Repair A/c Cr $ $ Date Particulars Amount Date Particulars Amount 31-Jul Cash 363 31-Jul Transferred to Income Statement 363 Total 363 Total 363 Dr Dividend A/c Cr $ $ Date Particulars Amount Date Particulars Amount 31-Jul Cash 631 31-Jul Transferred to Income Statement 631 Total 631 Total 631 Dr Prepaid InsuranceA/c Cr $ $ Date Particulars Amount Date Particulars Amount 5-Jul Cash 1800 31-Jul Balance Carried Forward 1800 Total 1800 Total 1800 Dr Service RevenueA/c Cr $ $ Date Particulars Amount Date Particulars Amount 12-Jul Accounts Receivable 4850 25-Jul Accounts Receivable 2685 31-Jul Transferred to Income Statement 7535 Total 7535 Total 7535 UNADJUSTED TRIAL BALANCE General Ledger Account Balance Account Name Debit Credit Cash $9,994.00 Accounts receivable 5869 Inventory $0.00 Equipment $12,968.00 Accounts payable $10,297.00 Common Stock $16,968.00 Retained earnings $267.00 $0.00 Service Revenue $7,535.00 Supplies Expenses $949.00 Salaries & Wages $2,226.00 Maintainence & Repairs $363.00 Prepaid Insurance $1,800.00 Dividend $631.00 Totals $35,067.00 $34,800.00 Difference $267.00 ADJUSTED TRIAL BALANCE General Ledger Account Balance Account Name Debit Credit Cash $9,994.00 Accounts receivable 5869 Inventory $0.00 Equipment $12,968.00 Accounts payable $10,297.00 Accured Liabilities $347.00 Common Stock $16,968.00 Retained earnings $267.00 $0.00 Service Revenue $7,535.00 Supplies Expenses $949.00 Salaries & Wages $2,226.00 Maintainence & Repairs $363.00 Insurance $150.00 Prepaid Insurance $1,650.00 Depreciation $184.00 Dividend $631.00 Totals $35,251.00 $35,147.00
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