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Prepare the income statement for july Mike Greenberg opened Monty Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July
Prepare the income statement for july
Mike Greenberg opened Monty Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 11,000 shares of common stock for $ 11,000 cash. 1 Purchased used truck for $ 7,360.paying $ 1,840 cash and the balance on account. 3 Purchased cleaning supplies for $ 830 on account. 5 Paid $ 1.680 cash on a 1-year insurance policy effective July, 1. 12 Billed customers $3,400 for cleaning services performed. 18 Paid $ 920 cash on amount owed on truck and $ 460 on amount owed on cleaning supplies, 20 Paid $ 1,840 cash for employee salaries. 21 Collected $1.470 cash from customers billed on July 12. & 25 Billed customers $ 2.300 for cleaning services performed. 31 Paid $ 270 for maintenance of the truck during month. 31 Declared and paid $ 550 cash dividend. The chart of accounts for Monty Window Washing contains the following accounts: Cash, Accounts Receivable Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. Prepare the income statement for July MONTY WINDOW WASHING INC. Income Statement For the Month Ended July 31, 2022 Revenues Service Revenue Expenses Maintenance and Repairs Expense $ Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Total Expenses Net Income/(Loss) $Step by Step Solution
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