Accounting Cycle Review 4-01 a-i Mike Greenberg opened Flint Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $13,700 cash in the company. 1 Purchased used truck for $9,120, paying $2,280 cash and the balance on account. 3 Purchased cleaning supplies for $1,030 on account. 5 Paid $2,040 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,220 for cleaning services performed. 18 Paid $1,140 cash on amount owed on truck and $570 on amount owed on cleaning supplies. 20 Paid $2,280 cash for employee salaries. 21 Collected $1,820 cash from customers billed on July 12. 25 Billed customers $2,850 for cleaning services performed. 31 Paid $330 for maintenance of the truck during month. 31 Owner withdrew 5680 cash from the company. 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 $1,940. 2. Depreciation on equipment for the month was $210. 3. One-twelfth of the insurance expired. 4. A count shows $360 of cleaning supplies on hand at July 31. 5. Accrued but unpaid employee salaries were $460. Post adjusting entries to the T-accounts. 7/1 7/21 Cash 13,700 771 1,820 775 7/18 7/20 7/31 7/31 6,200 Accounts Receivable 4,2207/21 2,850| 2,280 2,040 1,710 2,280 330 680 7/31 Bal. 1,820 7/12 7/25 xa Supplies 1,030] Prepaid Insurance 2,040 7/1 Equipment 9,120 9,120 Accumulated Depreciation Equipment 7/31 Bal. Accounts Payable 1,710 7/1 7/3 6,840 1.030 6,160 7/31 Bal Salaries and Wages Payable Owner's Capital 7/1 7/31 Bal. Owner's Drawings 680 680 Service Revenue 4,220 2,850 OPO Maintenance and Repairs Expense 7/31 330|| Supplies Expense FX Depreciation Expense Insurance Expense Salaries and Wages Expense 2.280 7/20 adjutral balance FLINT WINDOW WASHENG CO. Didddddddd/[[i Prepare the income statement for July FLINT WINDOW WASHING CO. Income Statement Prepare an owner's equity statement for Dully. (List items that increase owner's ege FLINT WINDOW WASHING CO. Owner's Equity Statement h a d bahay 31 (Lit Curtain order of liquidity) FLINT WINDOW WASHENG CO. n In Liabilities and Owner's Equity (Teder ) Todose cases) For account that have ending the entry 13, 2011 1825 121 231 Accounts Receivable 100 31 1.030/31 31 7/31 Prepaid Insurance 2.0407/31 18201 Equipment 2,120 2,120 ulated Depreciation Equipment 12/31 12/31 Bal Accounts Payable 231 . 1/31 Bal aries and Wages Payable 1231 Bal mm CY Maintenance and Repairs Expense Prepare a post-cosing trial balance at July 31. FLINT WINDOW WASHING CO. Post-Closing Trial Balance Credit
