Hello,

could you please assist me with the question that is below ?below ?below ?

Thank you.

Regards.

Similar to last week, there is an excel spreadsheet template attached to this unit's module.

Unit 3 Assignment:

From the results of last week's assignment

Post the following adjustments:

(a) Earned but unbilled fees at July 31 were $1,400

(b) Depreciation for the month was $200

(c ) One-twelfth of the insurance expired

(d) An inventory count showed $300 of cleaning supplies remaining on July 31

(e) Accrued but unpaid employee salaries were $500

fill the trial balance sheet

• Download Attachments:
• AccountingCycleComprehensiveProblem_Assignment_Unit_03 (2).xls

COMPREHENSIVE ACCOUNTING CASE Basic Accounting BU1102 Comprehensive Problem Term 2 Instructor: W.R. Allman, Ed.D. Student Name:_____________________________________ New Era Cleaning Service, Inc. opened for business on July 1, 2010. During the month of July, the following transactions occurred: July 1 Issued $18,000 of common stock for $18,000 cash. July 1 Purchased a truck for $11,000. Paid $4,000 in cash and borrowed the rest (long term) from the bank. July 3 Purchased cleaning supplies for $900 on account. July 5 Paid $1,800 on a one-year insurance policy, effective July 1. July 12 Billed customers $4,800 for cleaning services. July 18 Paid $1,500 of the amount owed on the truck. July 18 Paid $500 of the amount owed on cleaning supplies. July 20 Paid $1,700 for employee salaries. July 21 Collected $1,200 from customers billed on July 12. July 25 Billed customers $1,900 for cleaning services. July 31 Paid gas and oil for the month on the truck, $500. July 31 Paid a $800 dividend. Instructions: Unit 2 Post July transactions to the general journal and general ledger 'T' accounts Unit 3 Prepare an unadjusted trial balance Unit 3 Post the following adjustments (a) Earned but unbilled fees at July 31 were $1,400 (b) Depreciation for the month was $200 (c) One-twelfth of the insurance expired (d) An inventory count showed $300 of cleaning supplies remaining on July 31. (e) Accrued but unpaid employee salaries were $500. Unit 3 Prepare an adjusted trial balance Unit 4 Post closing entries Unit 4 Prepare a classified balance sheet and an income statement as of July 31. Journal # #1 Date Accounts and Description Debit Debit Credit Credit 7/1/2010 Cash $18,000 Common Stock Initial investment: Cash received for stock ownership #2 7/1/2010 Truck - Equipment $18,000 11000 Cash Bank Loan Purchase truck with cash and bank loan #3 7/3/2010 Cleaning Supplies 4000 7000 900 Accounts Payable 900 Purchased supplies on account #4 7/5/2010 Pre-paid Insurance 1800 Cash Paid annual premium for insurance policy - eff 7/1 #5 7/12/2010 Accounts Receivable 1800 4800 Service Revenue Billing for cleaning services rendered #6 7/18/2010 Bank Loan 4800 1500 Cash 1500 Loan payment on truck loan #7 7/18/2010 Accounts Payable 500 Cash Payment to cleaning supplies vendor #8 7/20/2010 Salaries Expense 500 1700 Cash 1700 Payment of salaries #9 7/21/2010 Cash 1200 Accounts Receivable Collections of Accounts Receivable #10 7/25/2010 Accounts Receivable 1200 1900 Service Revenue Billing for cleaning services rendered #11 7/31/2010 Gas & Oil Expense 1900 500 Cash 500 Gas and Oil (expense) #12 7/31/2010 Dividend Cash Payment of dividend to shareholders 800 800 Adjusting entries: (a) (b) (c ) (d) (e) Cash Debit Credit (1) 18000 4000 (2) 1800 (4) 1500 (6) 500 (7) 1700 (8) (9) 1200 500 (11) 800 (12) 8400 Accounts Receivable Debit Credit (5) 4800 1200(9) (10) 1900 5500 Pre-Paid Insurance Debit Credit (4) 1800 Supplies Debit Credit (3) 900 Equipment: Truck Debit Credit (2) 11000 Accum. Depreciation Debit Credit 200 (b) Accounts Payable Debit Credit 900 (3) (7) 500 400 Bank Loan Debit Credit 7000 (2) (6) 1500 5500 Gas & Oil Expense Debit Credit (11) 500 Salaries Expense Debit Credit (8) 1700 Salaries Payable Debit Credit Insurance Expense Debit Credit Revenue Debit Credit 4800 (5) 1900 (10) 6700 Supplies Expense Debit Credit Depreciation Expense Debit Credit Income Summary Debit Credit Common Stock Debit Credit 18000 (1) Dividend Debit Credit (12) 800 Retained Earnings Debit Credit Happy Workers Cleaning Service Account Beginnng Balance Debit Cash Accounts Receivable Cleaning Supplies Prepaid Insurance Equipment Accumulated Deprec. Credit Debit 0 0 0 0 0 0 Accounts Payable Salaries Payable Bank Loan 0 0 0 Common Stock Retained Earnings Dividends 0 0 0 Service Revenue Gas & Oil Expense Cleaning Supplies Exp Depreciation Expense Insurance Expense Salaries Expense 0 0 0 0 0 0 Unadjusted Trial Balance Credit Adjusting Entries Debit Credit Adjusted Trial Balance Debit Credit New Era Cleaning Service Income Statement for period of July 1 through July 31, 2010 Revenue Less: Expenses Salaries Cleaning Supplies Gas & Oil Depreciation Insurance Total Expenses Net Income New Era Cleaning Service Balance Sheet as of July 31, 2010 Assets Current Assets Cash Accounts Receivable Cleaning Supplies Pre-paid Insurance Total Current Assets Long Term Assets Truck-Equipment less: Accumulated Depreciation Total Long Term Assets Total Assets Liabilities Current Liabilities Accounts Payable Salaries Payable Total Current Liabilities Long Term Liabilities Bank Loan Total Long Term Liabilities Total Liabilities Owners' Equity Common Stock Retained Earnings Beginning Retained Earnings Net Income less: Dividends Ending Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity