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

July 1 Stockholders invested $18,000 cash in the business in exchange for common stock.

1 Purchased a used truck for $10,000, paying $3,100 cash and the balance on account.

3 Purchased cleaning supplies for $800 on account.

5 Paid $1,788 on a 1-year insurance policy, effective July 1.

12 Billed customers $3,700 for cleaning services.

18 Paid $1,000 of amount owed on truck, and $200 of amount owed on cleaning supplies.

20 Paid $1,500 for employee salaries.

21 Collected $1,500 from customers billed on July 12.

25 Billed customers $1,700 for cleaning services.

31 Paid gasoline for the month on the truck, $500.

31 Declared and paid a $500 cash dividend.

The chart of accounts for Kristins Maids Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated DepreciationEquipment, 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.

Journalize the July transactions.

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 $1,500.

(2)Depreciation on equipment for the month was $280.

(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 $500. KRISTINS MAIDS CLEANING SERVICE

Worksheet For the Month Ended July 31, 2017

Prepare the income statement for July 31, 2017.

Prepare the retained earnings statesment for july 31,2017

Post the Adjusting entries

Prepare classified balance sheet for july 31,2017

Journalize the adjusting entries.

Post the adjusting entries

Journalize closing entries

Post the closing entries and complete the closing process

Prepare a post-closing trial balance at July 31,2017

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