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Accumulated Depreciation-Equipment Accurnulated Depreciation Equipment begin{tabular}{l|ll} hline & 3/31 & 190 hline 03/31 blal & 190 end{tabular} Notes Payable begin{tabular}{l|ll} hline & 3/1 &
Accumulated Depreciation-Equipment Accurnulated Depreciation Equipment \begin{tabular}{l|ll} \hline & 3/31 & 190 \\ \hline 03/31 blal & 190 \end{tabular} Notes Payable \begin{tabular}{l|ll} \hline & 3/1 & 4300 \\ \hline & 331Bal & 4800 \end{tabular} Accounts Payable Sataries and Wages Parable Interest Payatile \begin{tabular}{l|ll} \hline & 131 & 24 \\ \hline & 1210i1 & 24 \end{tabular} C.getiran Stock Retalined far nires Bividends 2y=1 Income Summary Lars Linken opened Blue Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. Issued 7,600 shares of common stock for $11,400cash. 1 Borrowed $4,800 cash by signing a 6-month, 6%,$4,800 note payable. Interest will be paid the first day of each subsequent month. 1 Purchased used truck for $6,100 cash. 2 Paid \$1,200 cash to cover rent from March 1 through May 31. 3 Paid $1,800 cash on a 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $1,520 on account. 14 Billed customers $2,810 for cleaning services performed. 18 Paid $380 on amount owed on cleaning supplies. 20 Paid $1,330 cash for employee salaries. 21 Collected $1,220 cash from customers billed on March 14. 28 Billed customers $3,190 for cleaning services performed. 31 Paid \$270 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a $680 cash dividend. The chart of accounts for Blue Cleaners contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Prepaid Rent, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Notes Payable, Interest Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, insurance Expense, Salaries and Wages Expense, Rent Expense, and Interest Expense. (8) buse10 41 ontr , a ait Accounts Riccelvable \begin{tabular}{|l|l|} \hlinex=2810 \\ \hline \end{tabular} Service Revenue: \begin{tabular}{|l|l|} \hline & 2810 \\ \hline \end{tabular} Mar. 18 v. Accounts Payable \begin{tabular}{|l|l|} \hline & 380 \\ \hline \end{tabular} Salaries and Wages Expense Accounts Receivable Account Receivable Service Reverue: Prenare a trial halance at March 31 1. Services performed but unbilled and uncollected at March 31 was $150. 2. Depreciation on equipment for the monthwas $190. 3. One-sixth of the insurance expired. 4. An inventory count shows $210 of cleaning supplies on hand at March 31 5. Accrued but unpaid employee salaries were 8820 . 6. One month of the prepaid rent has expired. 7. Orie month of interest expense related to the note payable has accrued and will be paid April 1. Mar.31 V Accounts Receivable \begin{tabular}{|l|} \hline 150 \\ \hline \end{tabular} Service Revenue Depreciation Experse Accumulated Depreciation-Equipment Insurance Expense Prepaid insurance Mar 31v Supplies Experse? 5. Salaries and Wages Experse Salaries and Wuges Payable 6. Rent Expense Prepaid Rent 7. Interest Expense Intereat Payable Prepare an adiusted trial balance. Dividends \begin{tabular}{|l|} \hline \\ \hline \end{tabular} Service Revenue Salaries and Wages Expense \begin{tabular}{|l|l|} \hline & 2150 \\ \hline \end{tabular} Maintenance and Repairs Expense \begin{tabular}{|l|l|} \hline & 270 \\ \hline \end{tabular} Accounts Payable Salaries and Wages Payable \begin{tabular}{|r|} \hline 820 \\ \hline \end{tabular} Interest Payable Supplies Expense: \begin{tabular}{|l|} \hline 1200 \\ \hline \end{tabular} Depreciation Expense: \begin{tabular}{|l|} \hline 190 \\ \hline \end{tabular} Insurance Expense Rent Expense Interest Experce Totals \begin{tabular}{|ll|} \hline & 300 \\ \hline \end{tabular} 24 Prepare a retained earnings statement for March. Journalize and post closing entries and complete the closing process. (Credit occount titles are outomatically indented when the am amount.) (To dose net income to retained earnings) Mar: 31 (To close dividends to retained earnings) \begin{tabular}{|c|c|c|c|} \hline Cash & 11,400 & 3/1 & 6,100 \\ \hline 3/1 & 4,800 & 3/2 & 1,200 \\ 3/1 & 1,220 & 3/3 & 1,800 \\ 3/21 & & 3/18 & 380 \\ & & 3/20 & 1,330 \\ & & 3/31 & 270 \\ & & 3/31 & 680 \\ \hline 3/31 Bal. & 5,660 & & \\ \hline \end{tabular} Accounts Receivable \begin{tabular}{lr|rr} \hline Accounts Receivable & 2,810 & 3/21 & 1,220 \\ \hline 3/14 & 3,190 & & \\ 3/28 & 150 & & \\ \hline 3/31 & 4,930 & & \\ \hline 3/31 Bal. & & \end{tabular} Supplies 3/6 \begin{tabular}{|r|rr} 1520 & 3/31 & 1310 \\ \hline 210 & & \\ \hline \end{tabular} 3/31 8al. Prepaid Rent \begin{tabular}{lr|lr} \hline 3/6 & 1.520 & 3/31 & 1,310 \\ \hline 3/31 Bal & 210 & & \end{tabular} \begin{tabular}{lr|ll} \hline \multicolumn{2}{l|}{ Prepaid Rent } & \multicolumn{2}{|c}{} \\ \hline 3/2 & 1,200 & 3/31 & 400 \\ \hline 3/31 Bal & 800 & & \end{tabular} \begin{tabular}{ll|l|} \hline Prepaid insyrance & & \\ \hline 3/3 & 1,800 & 3/31 \\ \hline 3/31Bal. & 1,500 & \\ \hline \end{tabular} Equipment \begin{tabular}{lr|l|l} \hline 3/1 & 6,100 & \\ \hline 3/31 Bal. & 6,100 & & \\ \hline \end{tabular} Accumulated Depreciation-Equipment \begin{tabular}{l|lc} \hline & 3/31 & 190 \\ \hline & 3/31 Bal. & 190 \end{tabular} Notes Payable \begin{tabular}{l|ll} \hline & 3/1 & 4,800 \\ \hline & 3/31Bal.400 \end{tabular} Accounts Payable Salaries and Wages Payable \begin{tabular}{l|ll} \hline & 1 & 3/31. \\ \hline & 3/31 Bal. & 820 \\ \hline & & 820 \end{tabular} Salaries and Wages Payable \begin{tabular}{l|lr} \hline & 3/31 & 820 \\ \hline & 3/31 Bal. & 820 \end{tabular} Interest Payable \begin{tabular}{l|l|l|} \hline & 3/31 & 24 \\ \hline & 3/31Bal. & 24 \\ \hline \end{tabular} Common Stock Retained Earnings Dividends 3/31 3/1 11.400 11,400 Service Revenue Maintenance and Repairs Expense Supplies Expense Insurance Expense Salaries and Wages Expense Salaries and Wages Expense Rent Expense Interest Expense 3/31 24
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