On April 1, 2024, the following were the account balances of Bonnie's Window Cleaning Services. Account...
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On April 1, 2024, the following were the account balances of Bonnie's Window Cleaning Services. Account Balances for Bonnie's Window Cleaning Services Debit Credit Cash $ 4,300 Accumulated Depreciation-Equipment $ 300 Accounts Receivable 1,650 Accounts Payable 1,420 Notes Receivable 1,000 Unearned Service Revenue 850 Supplies 970 Salaries and Wages Payable 770 Equipment 6,000 Common Stock 9,000 Retained Earnings 1,580 $13,920 $13,920 Transactions: During April, the following summary transactions were completed. April 1 Transactions Paid $675 cash for a billboard ad near the freeway. The billboard will be installed on th 15th and run for two months. 3 Paid April rent $400. 5 10 Received $640 cash from customers in payment on account. Paid $2,200 for salaries due to employees, of which $1,430 is for April and $770 is for March's salaries payable. 12 Received $1,600 cash for services performed in April. 15 20 22 25 Purchased vacuum equipment on account $1,000. Paid creditors $500 of accounts payable due. Purchased cleaning supplies on account $200. Paid $800 cash for employees' salaries. 27 Billed customers $610 for services performed. 29 Adjustment data: Received $270 from customers for services to be performed in the future. 1. A count shows supplies on hand of $110. 2. Accrued but unpaid employees' salaries are $930. 3. Depreciation on cleaning equipment for the month is $200. 4. Cleaning services were performed to satisfy $200 of unearned service revenue. 5. Two weeks' worth of billboard services has been received. 6. One month of interest revenue related to the $1,000 note receivable has accrued. The 6-month note has an 8.5%. annual interest rate. To-Do: A. Enter the April 1 balances in the ledger accounts. (Use T-accounts.) B. Journalize the April transactions. C. Post to the ledger accounts. The chart of accounts includes Prepaid Advertising, Interest Receivable, Service Revenue, Interest Revenue, Advertising Expense, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. D. Prepare a trial balance as of April 30. "Turn-in point #1** E. Journalize and post adjusting entries. F. Prepare an adjusted trial balance. "Turn-in point #2** G. Prepare an income statement and a retained earnings statement for April and a classified balance sheet on April 30. "Turn-in point #3" H. Journalize and post-closing entries and complete the closing process. 1. Prepare a post-closing trial balance as of April 30. "Turn-in point #4** On April 1, 2024, the following were the account balances of Bonnie's Window Cleaning Services. Account Balances for Bonnie's Window Cleaning Services Debit Credit Cash $ 4,300 Accumulated Depreciation-Equipment $ 300 Accounts Receivable 1,650 Accounts Payable 1,420 Notes Receivable 1,000 Unearned Service Revenue 850 Supplies 970 Salaries and Wages Payable 770 Equipment 6,000 Common Stock 9,000 Retained Earnings 1,580 $13,920 $13,920 Transactions: During April, the following summary transactions were completed. April 1 Transactions Paid $675 cash for a billboard ad near the freeway. The billboard will be installed on th 15th and run for two months. 3 Paid April rent $400. 5 10 Received $640 cash from customers in payment on account. Paid $2,200 for salaries due to employees, of which $1,430 is for April and $770 is for March's salaries payable. 12 Received $1,600 cash for services performed in April. 15 20 22 25 Purchased vacuum equipment on account $1,000. Paid creditors $500 of accounts payable due. Purchased cleaning supplies on account $200. Paid $800 cash for employees' salaries. 27 Billed customers $610 for services performed. 29 Adjustment data: Received $270 from customers for services to be performed in the future. 1. A count shows supplies on hand of $110. 2. Accrued but unpaid employees' salaries are $930. 3. Depreciation on cleaning equipment for the month is $200. 4. Cleaning services were performed to satisfy $200 of unearned service revenue. 5. Two weeks' worth of billboard services has been received. 6. One month of interest revenue related to the $1,000 note receivable has accrued. The 6-month note has an 8.5%. annual interest rate. To-Do: A. Enter the April 1 balances in the ledger accounts. (Use T-accounts.) B. Journalize the April transactions. C. Post to the ledger accounts. The chart of accounts includes Prepaid Advertising, Interest Receivable, Service Revenue, Interest Revenue, Advertising Expense, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. D. Prepare a trial balance as of April 30. "Turn-in point #1** E. Journalize and post adjusting entries. F. Prepare an adjusted trial balance. "Turn-in point #2** G. Prepare an income statement and a retained earnings statement for April and a classified balance sheet on April 30. "Turn-in point #3" H. Journalize and post-closing entries and complete the closing process. 1. Prepare a post-closing trial balance as of April 30. "Turn-in point #4**
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