Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help me solve the question below Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and
please help me solve the question below
Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled and uncollected revenue for services performed at July 31 were $2,700. (2) Depreciation on equipment for the month was $500. (3) One-twelfth of the insurarse expired. (4) An inventory count shows $700 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $1,100. Sandhill Clark opened Sandhill's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Sandhill invested $20,000 cash in the business. 1 Purchased used truck for $9,100, paying $4,200 cash and the balance on account. 3 Purchased cleaning supplies for $2,200 on account. 5 Paid $1,680 cash on a 1-year insurance policy effective July 1 . 12 Billed customers $4,600 for cleaning services. 18 Paid $1,600 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies. 20 Paid $2,600 cash for employee salaries. 21 Collected $3,300 cash from customers billed on July 12. 25 Billed customers $6,000 for cleaning services. 31 Paid $340 for the monthly gasoline bill for the truck. 31 Withdraw $5,500 cash for personal use Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started