I need the answers for attached questions
Question 1 Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. During July the following transactions were completed. July 1 July 1 July 3 July 5 July 12 July 18 July 20 July 21 July 25 July 31 July 31 Issued 11,000 shares of common stock for $11,000 cash. Purchased used truck for $9,000, paying $2,000 cash and the balance on account. Purchased cleaning supplies for $900 on account. Paid $1,800 cash on 1year insurance policy effective July 1. Billed customers $3,200 for cleaning services. Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies. Paid $2,000 cash for employee salaries. Collected $1,400 cash from customers billed on July 12. Billed customers $2,500 for cleaning services. Paid $260 for gas and oil used in the truck during month. Declared and paid a $600 cash dividend. Journalize the July transactions. (List multiple debit/credit entries from largest to smallest amount 2.) Date July 1 Account/Description (To record the issuance of stock) July 1 (To record the purchase of a truck) July 3 July 5 July 12 July 18 July 20 July 21 July 25 July 31 (Paid for gas and oil) July 31 (Declared and paid a dividend) Journalize the following adjustments. 1. 2. 3. 4. 5. Depreciation on equipment for the month was $250. Onetwelfth of the insurance expired. An inventory count shows $360 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were $400. Date 1. July 31 2. July 31 3. July 31 4. July 31 5. July 31 Account/Description Post the July transactions to the ledger accounts. (Use T accounts.) Post adjusting entries to the T acc closing entries and complete the closing process. blank.) Cash 7/1 7/1 7/21 7/5 7/18 7/20 7/31 7/31 7/31 Bal. Accounts Receivable 7/12 7/21 7/25 7/31 7/31 Bal. Cleaning Supplies 7/3 7/31 7/31 Bal. Prepaid Insurance 7/5 7/31 7/31 Bal. Equipment 7/1 7/31 Bal. Accumulated Depreciation Equipment 7/31 7/31 Bal. Gas and Oil Expense 7/31 7/31 7/31 Bal. Cleaning Supplies Expense 7/31 7/31 7/31 Bal. Depreciation Expense 7/31 7/31 7/31 Bal. Complete the Trial Balance and Adjusted Trial Balance at July 31. leave any fields blank.) CARDINAL WINDOW WASHING INC. Before Adjustment Cash Accounts Receivable Cleaning Supplies Prepaid Insurance Equipment Acc. Depr. Equipment Accounts Payable Salaries Payable Common Stock Dividends Service Revenue Salaries Expense Gas & Oil Expense Depreciation Expense Insurance Expense Cleaning Supplies Expense Complete the income statement and a retained earnings statement for July and a classified balance sh (List expenses from largest to smallest amount, e.g. 10, 5, 2. List assets in order of liquidity and from largest to smallest amount, e.g. 10, 5, 2.) CARDINAL WINDOW WASHING INC. Revenues Expenses Total Expenses Net Income CARDINAL WINDOW WASHING INC. Retained Earnings Statement Add: Less: Current assets Total current assets Property, plant, and equipment Less: Total assets Current liabilities Total current liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Journalize the post closing entries. (List multiple debit/credit entries from largest to smallest amou 2.) Date July 31 Account/Description (To close revenue accounts.) July 31 (To close expense accounts.) July 31 (To close income summary. ) July 31 (To close dividends.) Complete the post closing Trial Balance below. (If answer is zero please enter 0 CARDINAL WINDOW WASHING INC. PostClosing Trial Balance July 31, 2010 Cash Accounts Receivable Cleaning Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Gas & Oil Expense Depreciation Expense Insurance Expense Cleaning Supplies Expense
