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[The following information applies to the questions displayed below.] Below are the transactions for Salukis Car Cleaning for June, the first month of operations. June
[The following information applies to the questions displayed below.]
Below are the transactions for Salukis Car Cleaning for June, the first month of operations.
June | 1 | Obtain a loan of $55,000 from the bank by signing a note. | ||
June | 2 | Issue common stock in exchange for cash of $25,000. | ||
June | 7 | Purchase car wash equipment for $60,000 cash. | ||
June | 10 | Purchase cleaning supplies of $6,500 on account. | ||
June | 12 | Wash 350 cars for $10 each. All customers pay cash. | ||
June | 16 | Pay employees $750 for work performed. | ||
June | 19 | Pay for advertising in a local newspaper, costing $350. | ||
June | 23 | Wash 450 cars for $10 each on account. | ||
June | 29 | Pay employees $800 for work performed. | ||
June | 30 | A utility bill of $1,250 for the current month is paid. | ||
June | 30 | Pay dividends of $450 to stockholders. |
Prepare a trial balance for June.
SALUKIS CAR CLEANING Trial Balance June 30 Accounts Debit Credit Cash Accounts receivable Supplies Equipment Accounts payable Notes payable Common stock Dividends Service revenue Salaries expense 1,5505 Advertising expense 350 Utilities expense 1,250 Totals $ 3,150 $ 0
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