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Comprehensive Problem ( Problem info and working papers ) Instruction ( g ) . . . Journalize and Post Closing Entries Bob opened Bob s
Comprehensive Problem Problem info and working papersInstruction g Journalize and Post Closing Entries
Bob opened Bobs Cleaning Services on July During July the company completed these transactions.
July Bob invested $ cash in the business
Purchased used truck for $ paying $ cash and the balance on account.
Purchased cleaning supplies for $ on account.
Paid $ cash on oneyear insurance policy effective July
Billed customers for $ for cleaning services.
Paid $ of amount owed on truck AND $ of the amount owed on cleaning supplies.
Paid $ for employee salaries.
Collected $ from customers previously billed on July
Billed customers $ for cleaning services.
Paid gasoline for the month on the truck, $
Declared and paid a $ cash dividend.
Use this Chart of Accounts: Cash; Account Receivable; Supplies; Prepaid Insurance; Truck; Accumulated DepreciationTruck; Accounts Payable; Salaries Payable; Common Stock; Retained Earnings; Dividends; Income Summary; Service Revenue; Supplies Expense; Gasoline Expense; Depreciation Expense; Insurance Expense; Salaries Expense.
Instructions:
c Unbilled and uncollected revenues for services performed at July were $
c Depreciation on the Truck for the month was $
c One month July of the year insurance policy was used up
c An inventory count shows that $ of cleaning supplies remains unused as of July
g Journalize AND POST the Closing entries.
h Prepare a PostClosing Trial Balance.
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