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Part A: Journalize the following transactions for June. inchester opened Ghost Cleaners on June 1, 2017. He is the sole owner of the corporation During
Part A: Journalize the following transactions for June. inchester opened Ghost Cleaners on June 1, 2017. He is the sole owner of the corporation During June, the following transactions were completed by Dean Cashed in a $50,000 insurance policy that was left to Dean by his father who died in March 2017 Invested $15,000 in exchange for common stock in Ghost Cleaners, Inc. Purchased a used van for $12,000, paying $3,000 cash and the ta He plans to pay off the remaining balance on the van by June 1, 2018. The note has a 10% APR with interest being payable at the end of every month. No principle pa Paid $1.800 cash on a 12-month insurance policy effective June 1, 2017 Hired his brother, Sam, to help with the corporation. He will be paid $1,000 per month for now Purchased cleaning supplies for $1,500 on account. Billed a client, F. Crowley, for services performed on June 7 in the amount of S Paid $100 for gasoline for the van Paid $200 for maintenance on the van Incurred wages expense of $2,000. Received payment of $3,000 for services performed on June 7 Paid $1,500 of accounts payable off for cleaning supplies. Billed a client, J. Mills, for services performed on June 20 in the amount of $8,000. Received payment of $4,000 for services performed on June 20 Paid employee wages incurred on June 15 in full Paid interest on the van note payable for June in the amount of $75 1-Jun 1-Jun 1-Jun king out a note payable for the rest. yments are due until August 1, 2017 1-Jun 1-Jun 5-Jun 7-Jun 8-Jun 12-Jun 15-Jun 16-Jun 18-Jun 20-Jun 26-Jun 30-Jun 30-Jun 3,000 Part B: Post the above transactions to the appropriate general ledger accounts and find balances. Part C: Prepare a trial balance as of June 30, 20127. Part D: Journalize and post to general ledger accounts the following adjustments for June: 1. Depreciation on the van was $200 2. Services performed for a client, B. Singer, but unbilled as of June 30 totaled $3,500 3. Insurance expired by one month 4. Wages expense incurred but unpaid as of June 30 totaled $1,700 5. Supplies used during the month totaled $700 6. A dividend was declared for $1,000 at June 30 but remained unpaid at June 30
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