(d1)

Prepare the income statement for July 31, 2017.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

ASHLEY'S MAIDS CLEANING SERVICE

Income Statement

For the Year Ended July 31, 2017

July 31, 2017

For the Month Ended July 31, 2017

Drawings

Expenses

Investment

Net Income / (Loss)

Owner's Capital, July 1

Owner's Capital, July 31

Revenues

Total Expenses

Total Revenues

$

Drawings

Expenses

Investment

Net Income / (Loss)

Owner's Capital, July 1

Owner's Capital, July 31

Revenues

Total Expenses

Total Revenues

$

Drawings

Expenses

Investment

Net Income / (Loss)

Owner's Capital, July 1

Owner's Capital, July 31

Revenues

Total Expenses

Total Revenues

Drawings

Expenses

Investment

Net Income / (Loss)

Owner's Capital, July 1

Owner's Capital, July 31

Revenues

Total Expenses

Total Revenues

$

More details:

Ashley Williams opened Ashley's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions.

July1Invested $19,700 cash in the business.1Purchased a used truck for $10,200, paying $3,100 cash and the balance on account.3Purchased cleaning supplies for $800 on account.5Paid $1,680 on a one-year insurance policy, effective July 1.12Billed customers $3,600 for cleaning services.18Paid $1,200 of amount owed on truck, and $210 of amount owed on cleaning supplies.20Paid $1,600 for employee salaries.21Collected $1,700 from customers billed on July 12.25Billed customers $1,700 for cleaning services.31Paid gasoline for the month on the truck, $200.31Withdrew $600 cash for personal use.

(b)Prepare a trial balance at July 31 on a worksheet.(c)Enter the following adjustments on the worksheet, and complete the worksheet.(1)Unbilled fees for services performed at July 31 were $1,400.(2)Depreciation on equipment for the month was $300.(3)One-twelfth of the insurance expired.(4)An inventory count shows $200 of cleaning supplies on hand at July 31.(5)Accrued but unpaid employee salaries were $600.