Question:
All of the first month’s activity for Crystal Clear Cleaning is as follows.
Requirements
1. Journalize transactions as required from the activity data.
2. Post journal entries to T-accounts and calculate account balances.
3. Prepare Trial Balance for April 30.
Transcribed Image Text:
Apr 1 CJ Oliver deposited $20,000 in the business account. Also on this date, CJ transferred his truck title, worth $5,000, to the business. CJ received 100 shares of no-par common stock in return. Wrote a check for $1,600 to Prestige Properties. In the "for" area of the check, it states "April thru July Rent." 2 3 Purchased business insurance policy for $1,200 for the term April 1, 2009, through April 1, 2010, and paid cash. 4 CJ went to the Cleaning Supply Company and purchased $220 of cleaning supplies on account. The invoice is due 20 days from the date of purchase. 5 Purchased on account an industrial vacuum cleaner from Save-Now costing $2,000. The invoice is payable on or before April 25. 7 Purchased a computer and printer costing a total of $1,500. A check for the same amount to the computer store was written on the same date. 9 10 15 16 17 18 20 21 Performed cleaning services on account for Bob's Burger House in the amount of $3,200. Deposited Bob's check for $200 in the bank. Wrote check payable to Ben Larrison for $300 for contract labor. Received $1,200 for 1 year contract beginning April 1 for cleaning services to be provided to the Oar Restaurant. Contract begins April 1, 2009, and ends March 31, 2010. Provided cleaning services for In Balance Solutions for $700. In Balance paid with a check. Received water and electric bill for $200 with due date of May 4, 2009. Borrowed $10,000 from bank with interest at rate of 8% per year. Deposited check from Bob's Burger House for $1,000, with the notation: on account. Wrote check to Save Now for invoice # 1035 in the amount of $1,500. 25 29 Wrote check payable to Pensacola News for $200 for advertising. 30 Paid dividends to CJ Oliver of $500.