Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could someone help me create a trial balance worksheet for the following problem. The questions has additional parts that I answered correctly, but I'm not

Could someone help me create a trial balance worksheet for the following problem. The questions has additional parts that I answered correctly, but I'm not sure I understand how to complete the worksheet. Some of the numbers I have entered are most likely incorrect as well. Thank you so much!

image text in transcribed

image text in transcribed

image text in transcribed

Problem 4-05A a-g (Part Level Submission) (Video) Sandhill Clark opened Sandhill's Cleaning Service on July 1, 2020. During July, the following transactions were completed. July 1 Sandhill invested $19,900 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 $2,300 on account. 1-year insurance policy effective July 1 5 Paid $1,800 cash on 12 Billed customers $4,600 for cleaning services 18 Paid $1,600 cash on amount owed on truck and $1,400 on am ount owed on cleaning supplies. 20 Paid $2,600 cash for employee salaries. July 12 21 Collected $3,400 cash from customers billed on 25 Billed customers $6,000 for cleaning services 31 Paid $360 for the monthly gasoline bill for the truck. 31 Withdraw $5,700 cash for personal use. (b) and (c) Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled and uncollected revenue for services performed at July 31 were $2,800. (2) Depreciation on equipment for the month was $600 (3) One-twelfth of the insurance expired. (4) An inventory count shows $600 of cleaning supplies on hand at July 31 (5) Accrued but unpaid employee salaries were $1,010. SANDHILL'S CLEANING SERVICE Worksheet For the Month Ended July 31, 2020 Adjustments Trial Balance Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr Dr. Cash 5700 5700 Accounts Receivable 2600 7200 9800 Supplies 2300 600 1700 Prepaid Insurance 150 1650 1800 Equipment 9100 9100 Accounts Payable 4200 4200 19900 Owner's Capital 19900 Owner's Drawings 5700 5700

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Forensics Audits And Dreaming

Authors: Helgard Petrus - Coetser

1st Edition

1664260250, 978-1664260252

More Books

Students also viewed these Accounting questions

Question

Identify the different methods employed in the selection process.

Answered: 1 week ago

Question

Demonstrate the difference between ability and personality tests.

Answered: 1 week ago