Julie Molony opened Julie's Maids Cleaning Service on July 1, 2010. During July, the company completed the following transactions. July 1 Invested $14,000 cash in the business. 1 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account. 3 Purchased cleaning supplies for $800 on account. 5 Paid $1,800 on a one-year insurance policy, effective July 1. 12 Billed customers $3,800 for cleaning services. 18 Paid $1,000 of amount owed on truck, and $400 of amount owed on cleaning supplies. 20 Paid $1,600 for employee salaries. 21 Collected $1,400 from customers billed on July 12. 25 Billed customers $1,500 for cleaning services. 31 Paid gas and oil for the month on the truck, $400. 31 Withdrew $600 cash for personal use. The chart of accounts for Julie's Maids Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 128 Cleaning Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation?Equipment, No. 201 Accounts Payable, No. 212 Salaries Payable, No. 301, Julie Molony, Capital; No. 306 Julie Molony, Drawing; No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gas & Oil Expense, No. 634 Cleaning Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries Expense. Instructions (a) Journalize and post the July transactions. Use page J1 for the journal. (b) Prepare a trial balance at July 31 on a worksheet. Trial balance totals $25,700 (c) Enter the following adjustments on the worksheet, and complete the worksheet. 1. Earned but unbilled fees at July 31 were $1,300. 2. Depreciation on equipment for the month was $200. 3. One-twelfth of the insurance expired. 4. An inventory count shows $100 of cleaning supplies on hand at July 31. 5. Accrued but unpaid employee salaries were $500. (d) Prepare the income statement and statement of owner's equity for July, and a classified balance sheet at July 31, 2010. Net income $3,050 Total assets $23,350 (e) Journalize and post the adjusting entries. Use page J2 for the journal. (f) Journalize and post the closing entries, and complete the closing process. Use page J3 for the journal. (g) Prepare a post-closing trial balance at July 31. Trial balance totals $23,550 I have started the assignment but am totally lost now. I have spent 4 days trying to do this.

Axia College Material Appendix G Comprehensive Problem Journalize Transactions Use this template to journalize and post the July transactions for Julie's Maid Cleaning Service, Inc. GENERAL JOURNAL DATE ACCOUNT TITLE AND EXPLANATION July 1 Cash Common Stock J1 REF. DEBIT CREDIT 101 14,000 311 14,000 1 Equipment Cash Accounts Payable 157 101 201 10,000 3 Cleaning Supplies Accounts Payable 128 201 800 5 Prepaid Insurance Cash 130 101 1,800 12 Accounts Receivable Service Revenue 112 400 3,800 18 Accounts Payable Cash 201 101 1,400 20 Salaries Expense Cash 726 101 1,600 21 Cash 101 112 1,400 25 Accounts Receivable Service Revenue 112 400 1,500 31 Gas & Oil Expense Cash 633 101 400 31 Dividends Cash 332 101 600 Accounts Receivable 3,000 7,000 800 1,800 3,800 1,400 1,600 1,400 1,500 400 600 a) General Journal Axia College Material Appendix G Comprehensive Problem Prepare a 10-Column Worksheet Complete this worksheet for Julie's Maids Cleaning Service, Inc. Make sure to: a) Prepare a trial balance at July 31; b) Enter the five adjustments; c) Complete the remaining parts of the worksheet; and d) Verify your totals. Account Titles Cash Accounts Receivable Cleaning Supplies Prepaid Insurance Equipment Accounts Payable Common Stock Dividends Service Revenue Gas and Oil Expense Salaries Expense Total Depreciation Expense Accumulated Depreciation Equipment Insurance Expense Cleaning Supplies Expense Salaries Payable Totals Net Income Totals JULIE'S MAIDS CLEANING SERVICE INC. Worksheet For the Month Ended July 31, 2008 Adjusted Trial Balance Adjustments Trial Balance Dr. Cr. Dr. Cr. Dr. Cr. 6,600 6,600 3,900 1,300 5,200 800 700 100 1,800 150 1,650 10,000 10,000 6,400 6,400 14,000 14,000 600 600 5,300 1,300 6,600 400 400 1,600 500 2,100 25,700 25,700 200 200 200 200 150 700 150 700 2,850 500 2,850 27,700 Income Statement Dr. Cr. 6,600 400 2,100 200 150 700 500 27,700 3,550 6,600 3,050 9,650 Balance Sheet Dr. Cr. 6,600 39 Axia College Material Appendix G Comprehensive Problem Post Accounts Post the July accounts for Julie's Maids Cleaning Service, Inc. You have 18 accounts altogether. GENERAL LEDGER Cash DATE EXPLANATION REF. DEBIT No. 101 CREDIT BALANCE Accounts Receivable DATE EXPLANATION REF. DEBIT No. 112 CREDIT BALANCE Cleaning Supplies DATE EXPLANATION REF. DEBIT No. 128 CREDIT BALANCE Prepaid Insurance DATE EXPLANATION REF. DEBIT No. 130 CREDIT BALANCE Equipment DATE REF. DEBIT No. 157 CREDIT BALANCE Accumulated Depreciation - Equipment DATE EXPLANATION REF. DEBIT No. 158 CREDIT BALANCE Accounts Payable DATE EXPLANATION REF. DEBIT No. 201 CREDIT BALANCE Salaries Payable DATE EXPLANATION REF. DEBIT No. 212 CREDIT BALANCE Common Stock DATE EXPLANATION REF. DEBIT No. 311 CREDIT BALANCE Retained Earnings DATE EXPLANATION REF. DEBIT No. 320 CREDIT BALANCE Dividends DATE EXPLANATION REF. DEBIT No. 332 CREDIT BALANCE Income Summary DATE EXPLANATION REF. DEBIT No. 350 CREDIT BALANCE Service Revenue DATE EXPLANATION REF. DEBIT No. 400 CREDIT BALANCE Gas & Oil Expense DATE EXPLANATION REF. DEBIT No. 633 CREDIT BALANCE Cleaning Supplies Expense DATE EXPLANATION REF. DEBIT No. 634 CREDIT BALANCE Depreciation Expense DATE EXPLANATION REF. DEBIT No. 711 CREDIT BALANCE Insurance Expense DATE EXPLANATION REF. DEBIT No. 722 CREDIT BALANCE Salaries Expense DATE EXPLANATION REF. DEBIT No. 726 CREDIT BALANCE EXPLANATION a) e) & f) Posting to Accounts Axia College Material Appendix G Closing Entries and a Post-closing Trial Balance Prepare Income and Retained Earnings Statements, and a Balance Sheet Prepare an Income Statement and a Retained Earnings Statement for July. Also complete the classified Balance Sheet at July 31, 2008 for Julie's Maids Cleaning Service, Inc. JULIE'S MAIDS CLEANING SERVICE INC. Income Statement For the Month Ended July 31, 2008 Revenues Service revenue Expenses Salaries expense Cleaning supplies expense Gas & oil expense Depreciation expense Insurance expense Total expenses Net income Retained Earnings Statement For the Month Ended July 31, 2008 Retained earnings, July 1 Add: Net income Less: Dividends Retained earnings, July 31 JULIE'S MAIDS CLEANING SERVICE INC. Balance Sheet July 31, 2008 Assets Current assets Cash Accounts receivable Cleaning supplies Prepaid insurance Total current assets Capital assets Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Salaries payable Total current liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity d) Statements & Balance Sheet Axia College Material Appendix G Comprehensive Problem Journalize Adjusting and Closing Entries For Julie's Maids Cleaning Service, Inc., a) Use General Journal J2 to journalize and post adjusting entries, and b) Use General Journal J3 to journalize and post closing entries. DATE GENERAL JOURNAL ACCOUNT TITLE AND EXPLANATION DATE GENERAL JOURNAL ACCOUNT TITLE AND EXPLANATION J2 REF. DEBIT CREDIT J3 REF. DEBIT CREDIT Axia College Material Appendix G Comprehensive Problem Preparing a Post Closing Trial Balance Prepare a post-closing trial balance at July 31, 2008. JULIE'S MAIDS CLEANING SERVICE INC. Post-Closing Trial Balance July 31, 2008 ACCOUNTS Cash Accounts Receivable Cleaning Supplies Prepaid Insurance Equipment Accumulated DepreciationEquipment Accounts Payable Salaries Payable Common Stock Retained Earnings Totals DEBIT CREDIT