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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.

image text in transcribed

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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