Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mike Greenberg opened Swifty Window Washing inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 14,200 shares of common

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Mike Greenberg opened Swifty Window Washing inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 14,200 shares of common stock for $14.200 cash. 1 Purchased used truck for $9,440, paying $2,360 cash and the balance on account. 3 Purchased cleaning supplies for $1,060 on account. 5 Paid $2,160 cash on a 1-year insurance policy effective July 1 . 12 Billed customers $4,370 for cleaning services performed. 18 Paid $1,180 cash on amount owed on truck and $590 on amount owed on cleaning supplies. 20 Paid $2,360 cash for employee salaries. 21 Collected $1,890 cash from customers billed on July 12. 25 Billed customers $2,950 for cleaning services performed. 31 Paid $340 for maintenance of the truck during month. 31 Declared and paid $710 cash dividend. The chart of accounts for Swifty 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. Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part) Question 1 of 1 Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable 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

Step: 3

blur-text-image

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

Financial Accounting

Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thomas, W. Morley Lemon, Catherine Seguin, Sandra Robertson Lemon

4th Canadian Edition

0131384333, 9780131384330

More Books

Students also viewed these Accounting questions

Question

What-if anything-would you say to your other students?

Answered: 1 week ago

Question

Why is repatriation orientation and training needed?

Answered: 1 week ago