Accounting Cycle Review 4-1 a-f, g1-93, h1-h2, i Mike Greenberg opened Kleene Window Washing Inc. on July 1, 2019. During July, the following transactions were completed. July 1 Issued 11,200 shares of common stock for $11,200 cash. 1 Purchased used truck for $7,300, paying $2,100 cash and the balance on account. 3 Purchased cleaning supplies for $1,000 on account. 5 Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,900 for cleaning services performed. 18 Paid $1, 100 cash on amount owed on truck and $600 on amount owed on cleaning supplies. 20 Paid $1,800 cash for employee salaries. 21 Collected $1,700 cash from customers billed on July 12. 25 Billed customers $2,700 for cleaning services performed. 31 Paid $320 for maintenance of the truck during month. 31 Declared and paid $700 cash dividend.WileyPLUS Wevaandt. Financial Accounting. 108 ASSIGNT RESOUR 7/25 2,700 Extra Credit 7/31 1,700 1 "Account ting Maintenance and Repairs Expense Cycle Review 7/31 320 4-1 a- , g1- 93, h1- Supplies Expense h2, 7/31 710 Review Score Review Results Depreciation Expense by 7/31 200 Study Objecti v ve Insurance Expense 7/31 140 Salaries and Wages Expense 7/20 1,800 7/31 400 SHOW LIST OF ACCOUNTSPrepare a post-closing trial balance at July 31. KLEENE WINDOW WASHING INC. Post-Closing Trial Balance July 31, 2019 Debit Credit Cash 4600 Accounts Receival 4900 Supplies 1000 Prepaid Insurance 1680 Equipment 730 Accounts Payable 4500 Common Stock 1120 Dividends 700 Service Revenue 6600 Salaries and Wag 180Workandt. Financial Accounting, 102 ALRIGHT Post to the badger grounds, (Pool entries in the order of journal entries presented In the previous part.) RIGOUR Credit 10 1704 W/5 hi 370 7/31 Accounts Receivable Chuty 7/12 7000 7/21 170 7/31 Supplies 100 100 Prepaid Insurance 1680 Equipment 7/31 Accounts Payable 1700 7/1 713 W/31 BILLY 450 Common Stock 7/31 700 Service Revenue 270 Maintenance and Repairs Experts 1 320 13/3: 39 320 Salaries and Wagon Expense-En Wavand. Randal Anpunting. Its Mat atfuiting entries to the Tokcounts. (Post matrices in the order of Journal s friar presented in the previous part) RESOUR Cash Credit 3,100 1.700 Supple Prepald Insurance 7/'5 1,409 7231 140 Accumulated Depreciation Equipment Accounts Payable 1008 4.507 Salaries and Wages Payable 7/20 Common Stock 14.309 11.309 3. POC 170 Maintenance and Repairs Expense 710WHYPLUS Wayaandt. Financial Accounting. 10m ASSIGN 14731 RESOUR Common Stock Extra 7/1 11,200 Credit 7/31 Bal. 11,200 1 Account Dividends 7/31 700 Cycle 7/31 Bal. 700 Review Service Revenue 4-1a .91- 7/12 3,900 93, h1. 7/25 2,700 Review 7/31 1700 Score Review 7/31 Bal. 8300 Results Maintenance and Repairs Expense by 7/31 320 Study Objecti 7/31 Bal. 320 VE Supplies Expense 7/31 710 7/31 710 Depreciation Expense 7/31 200 7/31 200 Insurance Expense 7/31 140 7/31 140 Salaries and Wages Expense 7/20 1,800 7/31 1800un SHOW LIST OF ACCOUNTS "Your answer is partially correct. Try again. OW Prepare an adjusted trial balance. KLEENE WINDOW WASHING INC. Trial Balance July 31, 2019 Debit Credit Cash 4600 Accounts Receival 4900 Supplies 1000 Prepaid Insurance 1680 Equipment 7300 Accounts Payable 4500 Common Stock 1120 Dividends 700 Service Revenue 6600 Maintenance and 320 Salaries and Wag 1800 2230 2230"Your answer Is partially correct. Try again. Prepare the income statement for July. KLEENE WINDOW WASHING INC. Income Statement July 31, 2019 Revenues Service Revenue 5600 Retained Earnings, July 1 v Salaries and Wag 1800 Maintenance and 320 Supplies Expense 600 Maintenance and 320 Supplies Expense 600 Net Income / (Loss) Retained Earnings, July 31 v 3880 SHOW LIST OF ACCOUNTS "Your answer is incorrect. Try again. Prepare a retained earnings statement for July. (List items that KLEENE WINDOW WASHING INC. Retained Earnings Statement SHOW LIST OF ACCOUNTSPrepare a classified balance sheet at July 31. (List Current Assets In order of liquidity.) KLEENE WINDOW WASHING INC. Balance Sheet July 31, 2019 V Assets Current Assets v Cash 4600 Accounts Receive 4900 Supplies 1000 Prepaid Insuranc 1680 Property, Plant and Equipment V 7300 V 700 700 2018 Liabilities and Stockholders' Equity Current Liabilities V Accounts Payable 4500 Common Stock 1120 Total Long-term Liabilities 200 Current Liabilities Salaries and Wad 400 Accounts Payable Long-term Liabilities 3880 Total Liabilities 2016SHOW LIST OF ACCOUNTS "Your answer is incorrect. Try again. Journalize the closing entries. (Credit account titles are automatically indented when Date Account Titles and Explanation Debit Credit July 31 (To close revenue account) July 31 (To close expense accounts) July 31 (To close net income to retained earnings) July 31 (To close dividends to retained earnings)ASTIGHT RIGOUR Cash Extra 11,200 7/1 2,100 Credit 7/21 1,700 7/5 1,580 7/18 1,700 7/20 1,HOO Sucks 7/31 320 Review 7/31 700 4-1 a 7/31 Bal. 4,600 Accounts Receivable 7/12 3,900 7/21 1,700 7/25 2,700 Ravimy 7/31 1,700 7/31 Bal. Results Supplies 7/3 1,000 7/31 710 Study 7/31 Bal. 290 Object Prepaid Insurance 7/5 1,680 7/31 140 7/31 Bal. 1,540 Equipment 7/1 7.300 7/31 Bal. 7,300 Accumulated Depreciation-Equipment 7/31 200 7/31 Bal. 200 Accounts Payable 7/18 1.700 7/1 5,290 7/3 1,00 0 7/31 BAL 4.500 Salaries and Wages Payable 7/31 40 0 7/31 Bal. 400 Common Stock $11,200 7/31 801, 11,200 Retained Earnings Dividends 7/31 700 Income Summary Service Revenue 7/13 13.900 7/25 2.700 7/31 1.700 Maintenance and Repairs Expense 7/31 320 Supplies Expense