Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mike Greenberg opened Cheyenne Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 9,800 shares of common
Mike Greenberg opened Cheyenne Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 9,800 shares of common stock for $9,800 cash. 1 Purchased used truck for $6,560, paying $1,640 cash and the balance on account. 3 Purchased cleaning supplies for $740 on account. 5 Paid $1,440 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,030 for cleaning services performed. 18 Paid $820 cash on amount owed on truck and $410 on amount owed on cleaning supplies. 20 Paid $1,640 cash for employee salaries. 21 Collected $1,310 cash from customers billed on July 12. 25 Billed customers $2,050 for cleaning services performed. 31 Paid $240 for maintenance of the truck during month. 31 Declared and paid $490 cash dividend. The chart of accounts for Cheyenne Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. Cash I. DI... Accounts Receivable Supplies Prepaid Insurance Equipment . Accounts Payable un Common Stock Dividends Service Revenue NO Maintenance and Repairs Expense Salaries and Wages Expense CHEYENNE WINDOW WASHING INC. Trial Balance Debit Credit $ $ Totals $ $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started