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Tom Way just started a cleaning business in August 2015 and will start the operation in September 2015. The Trial Balance for Wayzata Cleaning,
Tom Way just started a cleaning business in August 2015 and will start the operation in September 2015. The Trial Balance for Wayzata Cleaning, Inc., as of August 31, 2015, is presented bellow. Wayzata Cleaning, Inc. Trial Balance August 31, 2015 Debit Credit Cash Supplies $ 59,150.00 $ 6,000.00 Accounts Payable $ 6,000.00 Common Stock $ 60,000.00 Utility Expense $ 300.00 Advertising Expense $ 500.00 Miscellaneous Expense $ 50.00 Total $66,000.00 $ 66,000.00 September 1 Paid six months' rent $9,000. 1 Purchased cleaning equipments for $12,000 on account. 1 Tom invested his truck with a $18,000 fair market value in exchange for the company's common stock. Paid One year insurance $1,200 cash. Received $6,000 from a customer for services to be provided in the next six months. 2 2 6 Paid salary to employees for $2,000 7 Purchased $1,000 Supplies on account. 9 Performed services and received $5,000 cash. 12 Billed customers for services performed, $2,000. 13 Paid salary to employees for $2,000 Received $2,000 on account 17 19 Paid $2,400 on account. 20 Paid salary to employees for $2,000. 22 Received $2,500 for services performed. 25 26 Paid $1,000 dividends. Performend $1,500 services on account. 27 Paid salary to employees for $2,000. 28 Paid $300 for utilities. 31 Received $2,000 from a customer for services to be provided in October 2013. Required: 1.0 Journal the transactions that occurred in September 2013. 2.0 Post the journal entries to the General Ledger. 3.0 Calculate the new balances as of September 31, 2013. 4.0 Prepare the Un-Adjusted Trial Balance for Wayzata Cleaning, Inc. at September 31, 2013. 5.0 Prepare the Financial Statements for Wayzata Cleaning, Inc. ending and on September 31, 2013.
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