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Mike Greenberg opened Concord Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 13,200 shares of common
Mike Greenberg opened Concord Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 13,200 shares of common stock for $13,200 cash. 1 3 Purchased used truck for $8,800, paying $2,200 cash and the balance on account. Purchased cleaning supplies for $990 on account. Paid $2,040 cash on a 1-year insurance policy effective July 1. 5 12 Billed customers $4,070 for cleaning services performed. 18 Paid $1,100 cash on amount owed on truck and $550 on amount owed on cleaning supplies. 20 Paid $2,200 cash for employee salaries. 22 21 Collected $1,760 cash from customers billed on July 12. 25 Billed customers $2,750 for cleaning services performed. 31 Paid $320 for maintenance of the truck during month. 31 Declared and paid $660 cash dividend. The chart of accounts for Concord 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. Prepare an adjusted trial balance. CONCORD WINDOW WASHING INC. Trial Balance Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable July 31, 2022 Debit 5890 6930 350 1870 8800 Credit 200 5940 440 Common Stock Dividends Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense Depreciation Expense Insurance Expense Supplies Expense Totals 660 320 2640 200 170 640 13200 8690 28470 28470 CONCORD WINDOW WASHING INC. Income Statement
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