Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

There are 13 rows not including the balance row are the very bottom. Lars Linken opened Novak Cleaners on March 1, 2022. During March the

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
There are 13 rows not including the balance row are the very bottom.
Lars Linken opened Novak Cleaners on March 1, 2022. During March the following transactions were completed. Mar. 1 1 1 2 3 6 Issued 10,000 shares of common stock for $15,000 cash. Borrowed $6,200 cash by signing a 6-month, 6%, $6,200 note payable. Interest will be paid the first day of each subsequent month. Purchased used truck for $7.700 cash. Paid $1,320 cash to cover rent from March 1 through May 31, Paid $2,220 cash on a 6-month insurance policy effective March 1. Purchased cleaning supplies for $1.800 on account. Billed customers $3,600 for cleaning services performed. Paid $500 on amount owed on cleaning supplies. Paid $1,910 cash for employee salaries. Collected $1,500 cash from customers billed on March 14. Billed customers $4,100 for cleaning services performed. Paid $360 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $800 cash dividend. 14 18 20 21 28 31 31 The chart of accounts for Novak Cleaners contains the following accounts: Cash, Accounts Receivable Supplies Prepaid Insurance, Prepaid Rent. Equipment, Accumulated Depreciation-Equipment Accounts Payable. Salaries and Wages Payable, Notes Payable, Interest Payable, Common Stock. Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Rent Expense, and Interest Expense. Prepare a trial balance at March 31. NOVAK CLEANERS Trial Balance March 31, 2022 For the Month Ended March 31, 2022 For the Year Ended March 31, 2022 Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions