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Comprehensive Problem 4 a-g Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2019. During July, the company completed the following transactions. Need help
Comprehensive Problem 4 a-g
Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2019. During July, the company completed the following transactions.
Need help with posting adjusting entries
July | 1 | Stockholders invested $17,000 cash in the business in exchange for common stock. | |
1 | Purchased a used truck for $11,000, paying $2,800 cash and the balance on account. | ||
3 | Purchased cleaning supplies for $900 on account. | ||
5 | Paid $1,644 on a 1-year insurance policy, effective July 1. | ||
12 | Billed customers $3,700 for cleaning services. | ||
18 | Paid $1,100 of amount owed on truck, and $260 of amount owed on cleaning supplies. | ||
20 | Paid $1,800 for employee salaries. | ||
21 | Collected $1,700 from customers billed on July 12. | ||
25 | Billed customers $1,600 for cleaning services. | ||
31 | Paid gasoline for the month on the truck, $300. | ||
31 | Declared and paid a $500 cash dividend. |
(c) | Enter the following adjustments | |||
(1) | Unbilled fees for services performed at July 31 were $1,500. | |||
(2) | Depreciation on equipment for the month was $200. | |||
(3) | One-twelfth of the insurance expired. | |||
(4) | An inventory count shows $100 of cleaning supplies on hand at July 31. | |||
(5) | Accrued but unpaid employee salaries were $600. |
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