I need (b) and (c) answered, thanks. Also, Post the closing entries and complete

Question

I need (b) and (c) answered, thanks.

Also, Post the closing entries and complete the closing process.

(b) Prepare a trial balance at July 31 on a worksheet. (c) Enter the following adjustments on the worksheet, and complete the worksheet. Comprehensive Problem 4 (Part Level Submission) Ashley Williams opened Ashley's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Invested $16,100 cash in the business. Puchased a used truck for $10,700, paying $2,500 cash and the balance on account. 3 Purchased cleaning supplies for $700 on account. 5 Paid $1,872 on a one-year insurance policy, effective July 1 12 Billed customers $3,500 for cleaning services. 18 Paid $1,200 of amount owed on truck, and $300 of amount owed on cleaning supplies. 20 Paid $1,700 for employee salaries 21 Collected $1,600 from customers billed on July 12 25 Billed customers $1,700 for cleaning services. 31 Paid gasoline for the month on the truck, $200. 31 Withdrew $600 cash for personal use. Your answer is correct ournalize the July transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit July 1Cash 16100 Owner's Capital 16100

Explanation / Answer

ASHLEY'S MAIDS CLEANING SERVICE Worksheet July 31, 2017 Account Titles Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 9328 9328 9328 Accounts receivable 3600 1500 5100 5100 Supplies 700 600 100 100 Prepaid insurance 1872 156 1716 1716 Equipment 10700 10700 10700 Accounts payable 7400 7400 7400 Owner's Capital 16100 16100 16100 Owner's Drawings 600 600 600 Service revenue 5200 1500 6700 6700 Gasoline expense 200 200 200 Salaries and wages expense 1700 500 2200 2200 Totals 28700 28700 Depreciation expense 230 230 230 Accum. Depr.-equipment 230 230 230 Insurance expense 156 156 156 Supplies expense 600 600 600 Salaries and wages payable 500 500 500 Totals 2986 2986 30930 30930 3386 6700 27544 24230 Net income 3314 3314 Totals 6700 6700 27544 27544

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