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 insurance expired. (4) An Inventory count shows $600 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $1,010. CRANE'S CLEANING SERVICE Worksheet for the Month Ended July 31, 2020 Adjustments Adjusted Trial Balance Dr. Cr. Dr. Cr Account Titles Trial Balance Dr. Cr. Income Statement DI Cr. Balance Sheet Dr. Cash 5050 6050 6050 Accounts Recevable 7100 2700 9830 9800 Supplies 2000 1400 500 600 Prepaid Insurance 1800 150 1650 1650 Equipment 8800 3800 3800 Accounts Payable 3800 3300 3000 Owner's Capital 19900 19900 19900 Owner's Drawings 5600 5600 5600 Service Revenue 10500 2700 13200 13200 Gasoline Expense 350 350 350 Salaries and Wages Expense 2500 1010 3510 3510 B Totals 34200 34200 Depreciation Expanse 500 500 500 Accum. Depr.-Equipment 500 500 500 150 150 150 Insurance Expense B2 1400 400 Supplies Expense 1400 1010 1010 1010 Salanes and Wages Payable 5760 38410 384:01 5760 13200 5910 252101 32500 Totals 7290 Net Income G 13200 13200 32500 32500 Totals SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is correct. Prepare the income statement for July (Enter negative amounts using either a negative sign preceding the number. -15 or parentheses es (45)) 47.25 Your answer is correct. blem-014 - blem-034 - seo blem 4-05A 2-0 geo Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) CRANE'S CLEANING SERVICE Balance Sheet w Score Results by Objective July 31, 2020 Assets Current Assets Cash 6050 Accounts Receivable 9800 Supplies 600 Prepaid Insurance 1650 Total Current Assets 18100 Property. Plant and Equipment Equipment 8800 Less Accumulated Depreciation Equipment 500 8300 Total Assets 26400 Liabilities and Owner's Equity Current Liabilities Accounts Payable 3800 Salaries and Wages Payable 1010 Total Current Liabilities 4810 Owner's Equity Owner's Capital 21590 Total Labilities and Owner's Equity 26400 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT 7290 Totals 7290 13200 13200 32500 32500 ise 12 SHOW LIST OF ACCOUNTS SHOW ANSWER nie af.a2.b LINK TO TEXT LINK TO TEXT LINK TO TEXT blem 4-01A ad em 4-034 a.d blem 4-OSA - de Your answer is correct. Prepare the income statement for July. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parenthesese.g. (45).) w Score w Results by Objective CRANE'S CLEANING SERVICE Income Statement For the Month Ended July 31, 2020 Revenues Service Revenue 13200 Expenses Gasoline Expense 350 Salaries and Wages Expense 3510 Depreciation Expense 500 Insurance Expense 150 M Supplies Expense 1400 Total Expenses 5910 Net Income / {Loss) 7290 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is correct. Prepare the owner's equity statement for July (List Items that increase owner's equity first.) CRANE'S CLEANING SERVICE Owner's Equity Statement For the Month Ended July 31, 2020 Ownert Capital, y 1 Add Investments 19900 whers Equity 26400 by SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is correct. Journalize adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order displayed in the problem Date Account Titles and Explanation Debit Credit July 31 Accounts Receivable 2700 Service Revenue 2700 (To record revenue earned) July 31 Depreciation Expense 500 500 Accumulated Depreciation-Equipment (To record depreciation) July 31 Insurance Expense 150 Prepaid Insurance 150 (To record insurance expired) July 31 Supplies Expense 1400 Supplies 1400 (To record supplies used) July 31 Salaries and Wages Expense 1010 1010 Salaries and Wages Payable (To record salarles payable) SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT a Your answer is partially correct. Try again. Post adjusting entries. (Post entries in the order of journal entries posted above.) Exercise 14-07- x Your answer is incorrect. Try again. Post closing entries. (Post entries in the order of journal entries posted above.) Exercise 400 Video Exercise 4-12 - (Video) Exercise 117 ala2.b Video Problem 4-014 - Problem -084a- (Video) Problem 4-05A a- Video view Score view Results by udy Objective Cash No. 101 Date Explanation Debit Credit Balance July 1 19,900 19,900 July 1 3,900 16,000 July 5 1,800 14,200 July 18 3,100 11,100 ec July 20 2,500 8,600 July 21 3,400 12,000 July 31 350 11,650 July 31 5,600 6,050 Accounts Receivable No. 112 Date Explanation Debit Credit Balance July 12 4,500 4,500 July 21 3,400 1,100 July 25 6,000 7,100 July 31 Adjusting 2,700 9,800 Supplies No. 126 Date Explanation Debit Credit Balance July 3 2,000 2,000 July 31 Adjusting 1,400 600 Prepaid Insurance No. 130 Date Explanation Debit Credit Balance July 5 1,800 1.800 July 31 Adjusting 150 1,650 Equipment No. 157 Date Explanation Debit Credit Balance July 1 8,800 8,800 Accumulated Depreciation Equipment No. 158 Date Explanation Debit Credit Balance July 31 Adjusting 500 500 Accounts Payable No. 201 Date Explanation Debit Credit Balance July 1 4,900 4,900 July 3 2,000 6,900 July 18 3,100 3,800 Salaries and Wages Payable No. 212 Date Explanation Debit Credit Balance July 31 Adjusting 1,010 1,010 Owner's Capital No. 301 Date Explanation Debit Credit Balance July 1 19.900 19.900 Closing Closing Owner's Drawings Date Credit 1,010 July 31 ASSIGNMENT RESOURCES Chapter 4 HW Exere--07- (video al Exercise-4-08- Explanation Debit Adjusting Owner's Capital Explanation Debit Balance 1,010 No. 301 Balance 19,900 Date Credit July 1 19,900 Closing Closing Exercise 12 ab Video 1 Exercise 2012- Video) Problem 4-01A - Problem 4-03A and (Video) problem 4-OSA a d Owner's Drawings Explanation Debit 5,600 No. 306 Balance Date July 31 Credit 5,600 Video Closing Review Score Review Results by Study Objective No. 350 Income Summary Explanation Debit Date Credit Balance Closing closing Closing No. 400 Service Revenue Explanation Debit Balance Date July 12 July 25 July 31 4,500 Credit 4,500 6,000 2.700 Adjusting 10,500 13,200 Closing Date Gasoline Expense Explanation Debit 350 No. 633 Balance Credit July 31 350 Closing Date July 31 Supplies Expense Explanation Debit 1,400 Credit No. 631 Balance 1,400 Closing Date July 31 Depreciation Expense Explanation Debit Adjusting 500 No. 711 Balance Credit 500 closing Date July 31 Insurance Expense Explanation Debit Adjusting 150 No. 722 Balance Credit 150 Closing Date July 20 31 Salaries and Wages Expense Explanation Debit 2.500 Adjusting 1,019 Credit No. 726 Balance 2.500 3,510 Closing > O ileyPLUS Weygandt, Accounting Principles, 13e Help 1 System Announcements GNMENT CIRCES ter 4 HW No. 722 Balance Credit Insurance Expense Explanation Debit Adjusting 150 Date July 31 * 150 Cras-09.45 Closing Credit crise 4-12 2-5 ideo) ce12a1a2- ideo) oblem 4-014 - oblem 4-034 Video) roblem 4-05A 8C Video Date July 20 July 31 Salaries and Wages Expense Explanation Debit 2,500 Adjusting 1,010 No. 726 Balance 2,500 3,510 Closing SHOW LIST OF ACCOUNTS view Score view. Results by ady Objective LINK TO TEXT LINK TO TEXT LINK TO TEXT x your answer is incorrect. Try again. Prepare a post-closing trial balance at July 31. CRANE'S CLEANING SERVICE Post Closing Trial Balance Debit Credit 0 M Totale Click if you would like to Show Work for this question: Open Show. Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT