Tara Harris opened Taras Maids Cleaning Service, Ltd on July 1, 2017 During July, Purchased a used truck for 10,000, paying 3,000 cash and the balance on account Purchased cleaning supplies for 1,700 on account Paid 1,800 on a one year insurance policy, effective July 1 Billed customers 4,200 for cleaning services performed Paid 1,000 of amount owed on truck, and 400 of amount owed on cleaning supplies Paid 1,900 for employee salaries Collected 2,400 from customers billed on July 12 Billed customers 2,100 for cleaning services performed Paid gasoline for the month on the truck, 400 Declared and paid a 500 cash dividend The chart of accounts for Taras Maids Cleaning Service contains the following accounts No 101 Cash, No 112 Accounts Receivable, No 126 Supplies, No 130 Prepaid Insurance, No 157 Equipment, No 158 Accumulated DepreciationEquipment, No 201 Accounts Payable, No 212 Salaries and Wages Payable, No 311 Share CapitalOrdinary, No 320 Retained Earnings, No 332 Dividends, No 350 Income Summary, No 400 Service Revenue, No 633 Gasoline Expense, No 631 Supplies Expense, No 711 Depreciation Expense, No 722 Insurance Expense, and No 726 Salaries and Wages Expense Instructions Journalize and post the July transactions Use page J1 for the journal Prepare a trial balance at July 31 on a worksheet Enter the following adjustments on the worksheet, and complete the worksheet Unbilled fees for services performed at July 31 were 1,300 Depreciation on equipment for the month was 200 One twelfth of the insurance expired An inventory count shows 280 of cleaning supplies on hand at July 31 Accrued but unpaid employee salaries were 630 Prepare the income statement and retained earnings statement for July, and a classified statement of financial position at July 31, 2017 Journalize and post the adjusting entries Use page J2 for the journal Journalize and post the closing entries, and complete the closing process Use page J3 for the journal Prepare a post closing trial balance at July 31

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Tara Harris opened Taras Maids Cleaning Service, Ltd. on July 1, 2017. During July, Purchased a used truck for 10,000, paying 3,000 cash and the

Tara Harris opened Tara’s Maids Cleaning Service, Ltd. on July 1, 2017. During July, Purchased a used truck for £10,000, paying £3,000 cash and the balance on account. Purchased cleaning supplies for £1,700 on account. Paid £1,800 on a one-year insurance policy, effective July 1. Billed customers £4,200 for cleaning services performed. Paid £1,000 of amount owed on truck, and £400 of amount owed on cleaning supplies. Paid £1,900 for employee salaries. Collected £2,400 from customers billed on July 12. Billed customers £2,100 for cleaning services performed. Paid gasoline for the month on the truck, £400. Declared and paid a £500 cash dividend. The chart of accounts for Tara’s Maids Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation—Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Share Capital—Ordinary, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gasoline Expense, No. 631 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. Instructions Journalize and post the July transactions. Use page J1 for the journal. Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet, and complete the worksheet. Unbilled fees for services performed at July 31 were £1,300. Depreciation on equipment for the month was £200. One-twelfth of the insurance expired. An inventory count shows £280 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were £630. Prepare the income statement and retained earnings statement for July, and a classified statement of financial position at July 31, 2017. Journalize and post the adjusting entries. Use page J2 for the journal. Journalize and post the closing entries, and complete the closing process. Use page J3 for the journal. Prepare a post-closing trial balance at July 31.