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Prepare a classified balance sheet at July 31, 2017 Information given from previous questions: Ashley Williams opened Ashleys Maids Cleaning Service on July 1, 2017.

Prepare a classified balance sheet at July 31, 2017

image text in transcribedInformation given from previous questions:

Ashley Williams opened Ashleys Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions.

July 1 Invested $15,500 cash in the business.
1 Purchased a used truck for $10,700, paying $2,800 cash and the balance on account.
3 Purchased cleaning supplies for $800 on account.
5 Paid $2,304 on a one-year insurance policy, effective July 1.
12 Billed customers $3,500 for cleaning services.
18 Paid $1,300 of amount owed on truck, and $230 of amount owed on cleaning supplies.
20 Paid $1,500 for employee salaries.
21 Collected $1,500 from customers billed on July 12.
25 Billed customers $1,600 for cleaning services.
31 Paid gasoline for the month on the truck, $400.
31 Withdrew $700 cash for personal use.

(1) Unbilled fees for services performed at July 31 were $1,300.
(2) Depreciation on equipment for the month was $200.
(3) One-twelfth of the insurance expired.
(4) An inventory count shows $300 of cleaning supplies on hand at July 31.
(5) Accrued but unpaid employee salaries were $500.
ASHLEY'S MAIDS CLEANING SERVICE Balance Sheet Assets Liabilities and Owner's Equity

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