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from the previous question show mebthe general ledger Comprehensive Question - Becky's Car Detailing Services Becky Jones opened Becky's Car Detailing Services on April 1
from the previous question show mebthe general ledger
Comprehensive Question Becky's Car Detailing Services
Becky Jones opened Becky's Car Detailing Services on April In Apr, the following transactions were completed.
Apr Invested $ cash in the business
Purchased a used truck for $ paying $ cash and signing a note payable for the balance
Collected $ from for their car detailing needs for Apr, May and June.
Purchased cleaning supplies on account for $
Paid $ on a oneyear insurance policy, effective Apr
Billed customers $ for car detailing services
Paid $ of amount owed on cleaning supplies
Paid $ for employee's salaries
Collected $ from customers billed on Apr
Billed customers for $ for car detailing services
Paid gas and oil for the month on the truck $
Withdrew $ to pay personal property taxes
Additional Information:
Annual payments of $ are required on the note.
Required:
Journalize and post the Apr transactions. Becky's Car Detailing Services records all prepaid expenses and unearned revenues as assets and liabilities
Prepare an unadjusted trial balance at April
Journalize and post the following adjustments
a Earned and unbilled fees at Apr were $
b The truck has an estimated useful life of four years and no residual value.
c The insurance policy is effective Apr and expires on March
d An inventory count shows $ of cleaning supplies on hand at Apr
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Additional Information:
Annual payments of $ are required on the note.
Required:
Journalize and post the Apr transactions. Becky's Car Detailing Services records all prepaid expenses and unearned revenues as assets and liabilities
Prepare an unadjusted trial balance at April
Journalize and post the following adjustments
a Earned and unbilled fees at Apr were $
b The truck has an estimated useful life of four years and no residual value.
c The insurance policy is effective Apr and expires on March
d An inventory count shows $ of cleaning supplies on hand at Apr
e At Apr $ of the fees collected in advance have been earned.
f Accrued but unpaid employee salaries were $
g The note payable has a annual interest rate.
Prepare an adjusted trial balance at Apr
Prepare in good form an Income Statement, Statement of Owner's Equity and a Classified Balance Sheet
Journalize and post the closing entries.
Prepare a post closing trial balance at Apr
Becky's Car Detailing Services has chosen to prepare reversing entries. Prepare necessary reversing entries in May They do not need to be posted.
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