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Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Stockholders invested $20,000 cash
Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions.
July | 1 | Stockholders invested $20,000 cash in the business in exchange for common stock. | |
1 | Purchased a used truck for $11,000, paying $2,800 cash and the balance on account. | ||
3 | Purchased cleaning supplies for $700 on account. | ||
5 | Paid $2,004 on a 1-year insurance policy, effective July 1. | ||
12 | Billed customers $3,800 for cleaning services. | ||
18 | Paid $1,200 of amount owed on truck, and $200 of amount owed on cleaning supplies. | ||
20 | Paid $1,700 for employee salaries. | ||
21 | Collected $1,600 from customers billed on July 12. | ||
25 | Billed customers $1,700 for cleaning services. | ||
31 | Paid gasoline for the month on the truck, $400. | ||
31 | Declared and paid a $800 cash dividend. |
Enter the following adjustments on the worksheet, and complete the worksheet. | ||||
(1) | Unbilled fees for services performed at July 31 were $1,400. | |||
(2) | Depreciation on equipment for the month was $270. | |||
(3) | One-twelfth of the insurance expired. | |||
(4) | An inventory count shows $200 of cleaning supplies on hand at July 31. | |||
(5) | Accrued but unpaid employee salaries were $400. |
I need help with the Worksheet because my Balance Sheet ended up off with 30563 (Assets) and 29763 (Liabilities)
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