Question
Please fill out General Ledger ( Must be in T-Accounts) for the information below. I have attached a template on top. Julie Molony opened Julie's
Please fill out General Ledger ( Must be in T-Accounts) for the information below. I have attached a template on top.
Julie Molony opened Julie's Maids Cleaning Service Inc. on July 1, 2011. During July the company completed the following transactions.
July 1 - Stockholders invested $14,00 cash in the business in exchange for common stock
July 1- Purchased a used truck for $10,000, paying $3, 000 cash and te blaance on acccount.
July 3 - Puchased cleaning supplies for $800 on account.
July 5 - Paid $1,800 on a one-year insurance policy, effective July 1.
July 12- Billed customers $3,800 for cleaning services
July 18 - Paid $1,000 of amount owed on truckm and $400 of amount owed on cleaning supplies.
July 20 - Paid $1,600 for employee salaries.
July 21 - Collected $1,400 from custers billed on July 12
July 25 - Billed customers $1,500 for cleaning services,
July 31 - Paid gas and oil for the month on the truck, $400.
July 31 - Declared and paid a $600 cash dividend.
Adjusted Transactions
A) Earned but unbilled feels at July 31 were $1,300
B) Depeciation on equipment for the month was $200
C) One-twelfth of the insurance expired.
D) An inventory count shows $100 of cleanint supplies on hand at July 31.
E) Accrued but unpaid employee salaries were $500.
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