Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mike Greenberg opened Concord Window Washing Inc. on July 1, 2025. During July, the following transactions were completed. July 1 Issued 13,200 shares of common

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Mike Greenberg opened Concord Window Washing Inc. on July 1, 2025. During July, the following transactions were completed. July 1 Issued 13,200 shares of common stock for $13,200 cash. 1 Purchased used truck for $8,800, paying $2,200 cash and the balance on account. 3 Purchased cleaning supplies for $990 on account. 5 Paid $2,040 cash on a 1 -year insurance policy effective July 1. 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. 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 Recelvable, 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. Common Stock Dividends Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense Mike Greenberg opened Concord Window Washing Inc. on July 1, 2025. During July, the following transactions were completed. July 1 Issued 13,200 shares of common stock for $13,200 cash. 1 Purchased used truck for $8,800, paying $2,200 cash and the balance on account. 3 Purchased cleaning supplies for $990 on account. 5 Paid $2,040 cash on a 1 -year insurance policy effective July 1. 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. 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 Recelvable, 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. Common Stock Dividends Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance services an integrated approach

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan

16th edition

978-0134075754, 134075757, 134065824, 978-0134065823

More Books

Students also viewed these Accounting questions

Question

h. What advantages and disadvantages were there to coleadership?

Answered: 1 week ago