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Michael Vescovacci organized a cleaning service business on December 1, 2022 named Vescovacci Cleaning Service. The trial balance for December 31, 2022 is provided below.
Michael Vescovacci organized a cleaning service business on December 1, 2022 named Vescovacci Cleaning Service. The trial balance for December 31, 2022 is provided below. Vescovacci Cleaning Service Trial Balance December 31, 2022 Debit Credit Cash $ 13,000.00 Account Receivable 10,000.00 Supplies 5,000.00 Prepaid Rent 12,000.00 Equipment 18,000.00 Accounts Payable $ 8,000.00 Vescovacci's Capital 50,000.00 Total $ 58,000.00 $ 58,000.00 The following transactions were made during the month of January. January 1, 2023 Additional supplies acquired on account, $3,750. January 3, 2023 A client requested a cleaning service for his rental apartment for the month of February. The cost of that service is $1,500. The client paid $500 in advance and payment of the remainder will be made when the work is done on February 4. January 5, 2023 Mr. Vescovacci made an investment of $3,000 in equipment, $4,000 in furniture, and a cargo vehicle with a market value of $53,000. January 15, 2023 Cleaning service performed during January: for cash $10,500; on account $12,800. January 18, 2023 Advertising costs totaling $2,500 were incurred. 50% is paid in cash and the remainder will be paid next month. January 30, 2023 Wages for January, paid in cash, $5,950. January 31, 2023
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