Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Carla Vista Clark opened Carla Vista's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Carla Vista invested $19,800
Carla Vista Clark opened Carla Vista's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Carla Vista invested $19,800 cash in the business. 1 Purchased used truck for $9,100, paying $4,200 cash and the balance on account. 3 Purchased cleaning supplies for $2,100 on account. 5 Paid $1,800 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,600 for cleaning services. 18 Paid $1,400 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies. 20 Paid $2,600 cash for employee salaries. 21 Collected $3,300 cash from customers billed on July 12 . 25 Billed customers $6,100 for cleaning services. 31 Paid $360 for the monthly gasoline bill for the truck. 31 Withdraw $5,700 cash for personal use. Prepare the income statement for July. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or (d2). Prepare the owner's equity statement for July. (List items that increase owner's equity first.) CARLA VISTA'S CLEANING SERVICE Owner's Equity Statement $ $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (d) Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) CARLA VISTA'S CLEANING SERVICE Balance Sheet Assets $ $ $ $ Liabilities and Owner's Equity $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started