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I have completed this question up to F with a tutor in person. I am not very good at accounting so I am having trouble
I have completed this question up to F with a tutor in person. I am not very good at accounting so I am having trouble finishing parts F & G on my own. Any help you are able to give to help finish this would be greatly appreciated !!
Comprehensive Problem 4 (Part Level Submission) Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. 1 Purchased a used truck for $10,000, paying $3,200 cash and the balance on account. 3 Purchased cleaning supplies for $700 on account. 5 Paid $2,280 on a 1-year insurance policy, effective July 1. 1 2 Billed customers $3,500 for cleaning services. 1 8 Paid $1,100 of amount owed on truck, and $270 of amount owed on cleaning supplies. 2 0 Paid $1,700 for employee salaries. 2 1 Collected $1,500 from customers billed on July 12. 2 5 Billed customers $1,800 for cleaning services. 3 1 Paid gasoline for the month on the truck, $500. 3 1 Declared and paid a $600 cash dividend. Instructions: A. B. (c) D. E. F. G. Journalize and post the July transactions Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet, and complete the worksheet. (1) Unbilled fees for services performed at July 31 were $1,300. (2) Depreciation on equipment for the month was $210. (3) One-twelfth of the insurance expired. (4) An inventory count shows $300 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $400. Prepare the income statement for July 31, 2017 Journalize and post the adjusting entires Journalize and post the closing entries and complete the closing process. Prepare a post closing trial balance at July 31 Comprehensive Problem 4 (Part Level Submission) Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. 1 Purchased a used truck for $10,000, paying $3,200 cash and the balance on account. 3 Purchased cleaning supplies for $700 on account. 5 Paid $2,280 on a 1-year insurance policy, effective July 1. 12 Billed customers $3,500 for cleaning services. 18 Paid $1,100 of amount owed on truck, and $270 of amount owed on cleaning supplies. 20 Paid $1,700 for employee salaries. 21 Collected $1,500 from customers billed on July 12. 25 Billed customers $1,800 for cleaning services. 31 Paid gasoline for the month on the truck, $500. 31 Declared and paid a $600 cash dividend. Journalize the July transactions. (Credit account titles are automatically indentet Date Account Titles and Explanation Debit Credit as: I "I 6000 u y 5 'repaid Insuranc 230 I Iuly 12 ccounts Receivabl IE 'I Iuly 18 ccounts Payable 370 IE I. 370 700 'II I. 700 Iuly 211m 'm '. I'ccounts Receivabl .- Im Iuly 25! ccounts Receivabl 800 I. ervice Revenue 800 '_ Iuly 31 asoline Expense 'Lm Iulv 31 LEI (To record dividend.) Cash Date Explanation -K -K -K -K -K -K -K E E E E E E E 'Step by Step Solution
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