Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions.

D) PREPARE AN INCOME STATEMENT AND A RETAINED EARNINGS STATEMENT FOR JULY, AND A CLASSIFIED BALANCE SHEET AT JULY 31, 2017.

*** THE TOTALS WERE ALREADY INCLUDED TO MAKE SURE EVERYTHING ADDS TO THAT NUMBER.***

CP4 Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Stockholders invested $14,000 cash in the business in exchange for common stock. 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 1-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 gasoline for the month on the truck, $400. 31 Declared and paid a $600 cash dividend. The chart of accounts for Kristin's Maids Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equip- ment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. Instructions (a) Journalize and post the July transactions. (b) Prepare a trial balance at July 31 on a worksheet. (c) 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 $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 an income statement and a retained earnings statement for July, and a classified balance sheet at July 31, 2017. (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. (g) Prepare a post-closing trial balance at July 31. Instruction (d) ... (part 1) prepare an Income Statement $6,600 Kristin's Maid Cleaning Service Income Statement For the Month Ended July 31, 2017 Revenues: | $6,600 Total Revenue Expenses: ???? $700 Salaries & Wages Expense $2,100 Gas Expense $400 Depreciation $200 Insurance Expense $150 Total Expenses Net Income $3,550 3,050 Completed for you (you may need an amount from it for the CLASSIFIED Balance Sheet) Kristin's Maids Cleaning Service Statement of Changes in Stockholders Equity For the Month Ended, July 31 Retained Earnings, July 1 (beginning) 0 Add: Net Income 3,050 3,050 Less: Dividends 600 Retained Earnings, July 31_(ending) 2,450 Kristin's Maids Cleaning Service Balance Sheet July 31, 2017 Assets Current Assets: Total Current Assets Property Plant and Equipment: Total Assets 23,350 Liabilities and Stockholders' Equity | Current Liabilities: Total Current Liabilities Stockholders Equity: Total Liab. & Stckhldrs' Equity 23,350 CP4 Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Stockholders invested $14,000 cash in the business in exchange for common stock. 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 1-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 gasoline for the month on the truck, $400. 31 Declared and paid a $600 cash dividend. The chart of accounts for Kristin's Maids Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equip- ment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. Instructions (a) Journalize and post the July transactions. (b) Prepare a trial balance at July 31 on a worksheet. (c) 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 $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 an income statement and a retained earnings statement for July, and a classified balance sheet at July 31, 2017. (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. (g) Prepare a post-closing trial balance at July 31. Instruction (d) ... (part 1) prepare an Income Statement $6,600 Kristin's Maid Cleaning Service Income Statement For the Month Ended July 31, 2017 Revenues: | $6,600 Total Revenue Expenses: ???? $700 Salaries & Wages Expense $2,100 Gas Expense $400 Depreciation $200 Insurance Expense $150 Total Expenses Net Income $3,550 3,050 Completed for you (you may need an amount from it for the CLASSIFIED Balance Sheet) Kristin's Maids Cleaning Service Statement of Changes in Stockholders Equity For the Month Ended, July 31 Retained Earnings, July 1 (beginning) 0 Add: Net Income 3,050 3,050 Less: Dividends 600 Retained Earnings, July 31_(ending) 2,450 Kristin's Maids Cleaning Service Balance Sheet July 31, 2017 Assets Current Assets: Total Current Assets Property Plant and Equipment: Total Assets 23,350 Liabilities and Stockholders' Equity | Current Liabilities: Total Current Liabilities Stockholders Equity: Total Liab. & Stckhldrs' Equity 23,350