Question
Full acounting problems: Mike Greenberg opened Sheffield Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 13,000
Full acounting problems:
Mike Greenberg opened Sheffield Window Washing Inc. on July 1, 2022. During July, the following transactions were completed.
July 1 | Issued 13,000 shares of common stock for $ 13,000 cash. | ||
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1 | Purchased used truck for $ 8,640, paying $ 2,160 cash and the balance on account. | ||
3 | Purchased cleaning supplies for $ 970 on account. | ||
5 | Paid $ 1,920 cash on a 1-year insurance policy effective July 1. | ||
12 | Billed customers $ 4,000 for cleaning services performed. | ||
18 | Paid $ 1,080 cash on amount owed on truck and $ 540 on amount owed on cleaning supplies. | ||
20 | Paid $ 2,160 cash for employee salaries. | ||
21 | Collected $ 1,730 cash from customers billed on July 12. | ||
25 | Billed customers $ 2,700 for cleaning services performed. | ||
31 | Paid $ 310 for maintenance of the truck during month. | ||
31 | Declared and paid $ 650 cash dividend. |
The chart of accounts for Sheffield Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated DepreciationEquipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense.
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