*Problem 4-5A (Part Level Submission) Heidi Jara opened Jara's Cleaning Service on July 1, 2015. During July, the following transactions were completed. July 1 Stockholders invested $20,194 cash in the business in in exchange for common stock. 1 Purchased used truck for $9,071, paying $3,846 cash and the balance on account. 3 Purchased cleaning supplies for $1,986 on account. 5 Paid $1,788 cash on 1-year insurance policy effective July 1 12 Billed customers $4,537 for cleaning services. 18 Paid $1,580 cash on amount owed on truck and $1,407 on amount owed on cleaning supplies 20 Paid $2,534 cash for employee salaries. 21 Collected $3,486 cash from customers billed on July 12 25 Billed customers $6,099 for cleaning services. 31 Paid $354 for the monthly gasoline bill for the truck. 31 Paid a $5,518 cash dividend (a1) Your answer is correct. Journalize the July transactions. (Credit account titles are au Date Account Titles and Explanation Debit Credit 20194 July 1 ashl ommon Stock 20194 (To record cash invested in business.) July 1 Equipment 071 %E846/ ashl ccounts Payable (To record truck purchased.) 986/ % 986 788 ' uly 3 Supplies unts Payablel July 5 Prepaid Insurance ashl uly 12 Accounts Receivable 537T ervice Revenuel uly 18 Accounts Payable ashl July 2d salaries and wages Expense % - 534 54 534 T ashl 3486 July 21 Cash Accounts Recelivable 3486 July 25 Accounts Receivablel Service Revenue _1099 July 31 Gasoline Expensel 54 ashl (To record gasoline expense.) uly 31 Dividends 518 ash (To record dividends.) 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 $2,691. (2) Depreciation on equipment for the month was $576 (3) One-twelfth of the insurance expired. (4) An inventory count shows $574 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $1,013. JARA'S CLEANING SERVICE Worksheet For the Month Ended July 31, 2015 Trial Balance Adjustments Adjusted Trial Cr Income Statement Balance Sheet Balance Account Titles Dr Cr. Dr Cr Cr Dr Dr Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Common Stock Dividends Service Revenue Gasoline Expense Salaries and Wages Expense 653 150 986 788 071 65 653 841 74 639 071 841 691 412 63 071 224 224 224 20194 T 0194 0194 518 518 51 T13327 1232 691 3327 534 54 547 Totals Depreciation Expense Accum. Depr.-Equipment Insurance Expense Supplies Expense Salaries and Wages Payable 5054 135054 76 412 013 013 Totals 841 5841 9334 9334 03 289 33273S 3327 33296 Net Income 289 Totals 3296 E] Prepare the income statement for July. (Enter nes Your answer is correct. JARA'S CLEANING SERVICE Income Statement For the Month Ended July 31, 2015 evenue 3327 ervice Revenue Expenses 9354 asoline Expensel alanes and Wages Expense13547 Depreclation Expense 376 T149 nsurance Expense upplies Expense otal Expenses et Income (Loss) 412 6038 37289 "(d2) Your answer is correct. Prepare the retained earnings statement for July. ARA'S CLEANING SERVICE Retained Earnings Statement For the Month Ended July 31, 2015 etained Earnings, July 1 dd: Net Income/ (Loss) 289 ss: Dividendsl etained Earnings, July 31 "(f2) Your answer is correct. Post closing entries. (Post entries in the order of journal entries posted above.) Cash No. 101 Ref Debit Credit Balance 20,194 3,846 16,348 1,788 14,560 2,987 11,573 2,534 9,039 12,525 354 12,171 5,518 6,653 No. 112 Ref Debit Credit Balance 4,537 3,486 1,051 7,150 9,841 No. 128 Ref Debit Credit Balance 1,986 574 No. 130 Ref Debit Credit Balance 1,788 149 1,639 No. 157 Ref Debit Credit Balance 9,071 No. 158 Ref Debit Credit Balance 576 576 Date Explanation July 1 uly 1 July 5 uly 18 uly 20 July 21 uly 31 uly 31 Accounts Receivable 11 20,194 01 01 01 01 11 3,486 JI Date Explanation July 12 July 21 uly 25 July 31 Supplies 1 4,537 01 11 6,099 1 2,691 Adjusting Date Explanation uly 3 uly 31 Prepaid Insurance 1 1,986 12 1,412 Adjusting Date Explanation uly 5 July 31 Equipment 1 1,788 12 Adjusting Date Explanation uly 1 Accumulated Depreciation-Equipment 11 9,071 Date Explanation Adjusting uly 31 12 Accounts Payable No. 201 Ref Debit Credit Balance 3,846 3,846 1,986 7,211 4,224 No. 212 Ref Debit Credit Balance 1,013 1,013 No. 311 Ref Debit Credit Balance 20,194 20,194 No. 320 Ref Debit Credit Balance Date Explanation July 1 July 3 July 18 Salaries and Wages Payable J1 2,987 Date Explanation Adjusting July 31 Common Stock 12 Date Explanation July 1 Retained Earnings Date Explanation uly 31 Closing buly 31Closing 13 289 28 13 5518 Dividends No. 332 Ref Debit Credit Balance 5,518 Date Explanation July 31 uly 31 Income Summary 1 5,518 Closing 518 No. 350 Ref Debit Credit Balance Explanation Closing Closing Date uly 31 uly 31 uly 31Closing 13 6038 28 13 17289 Service Revenue No. 400 Ref Debit Credit Balance 4,537 4,537 6,099 10,636 2,691 13,327 Date Explanation July 12 July 25 July 31 Adjusting 12 Closing 3 13327 uly 31 Gasoline Expense No. 633 Date Explanation Ref Debit Credit Balance 11 354 13 July 31 uly 31Closing Supplies Expense 354 54 No. 634 Ref Debit Credit Balance 1,412 Date Explanation July 31 uly 31 Closing Depreciation Expense 1 1,412 1412 Date Explanation Adjusting Closing Ref Debit Credit Balance 2 576 576 July 31 uly 31 Insurance Expense 576 No. 722 Ref Debit Credit Balance 149 Date Explanation Adjusting July 31 2 149 uyClosing Salaries and Wages Expense No. 726 Ref Debit Credit Balance 2,534 3,547 Date Explanation July 20 July 31 1 2,534 12 1,013 Adjusting y 3 Closing 132547 uly 31 Prepare a post-closing trial balance at July 31 JARA'S CLEANING SERVICE Post-Closing Trial Balance July 31, 2015 Debit Credit