. Verizon LTE 12:27 PM 21% 0 CH4 HW *Accounting Cycle Review 4-01 a-i Mike Greenberg opened Flounder Window Washing Co. on July 1, 2020. During July, the following transactions were completed Owner invested $10,100 cash in the company. 1 Purchased used truck for $6,720, paying $1,680 cash and the balance on account. Purchased cleaning supplies for $760 on account. Paid $1,560 cash on a 1-year insurance policy effective July 1. Billed customers $3,110 for cleaning services performed Paid $840 cash on amount owed on truck and $420 on amount owed on cleaning supplies. 20 Paid $1,680 cash for employee salaries. * Collected $1,340 cash from customers billed on July 12. as Billed customers $2,100 for cleaning services performed. * Paid $240 for maintenance of the truck during month. Owner withdrew $500 cash from the company. Journalize the July transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 11 Verizon LTE 21%O 12:27 PM CH4 HW Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash ..ll Verizon LTE 12:27 PM 21%O CH4 HW Post to the ledger accounts. (Post entries in the order or journal entries presented in the previous part.) Cash Accounts Receivable Equipment Accounts Payable Owner's Capital Owner's Drawings Maintenance and Repairs Expense Salaries and wages Expense Prepare a trial balance at July 31. FLOUNDER WINDOW WASHING CO. Trial Balance Il Verizon LTE 21% 0 12:27 PM CH4 HW FLOUNDER WINDOW WASHING CO. Trial Balance Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. Services performed but unbilled and uncollected at July 31 were $1,430. 2. Depreciation on equipment for the month was $150. 3. One-twelfth of the insurance expired. 4. A count shows $270 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were $340. Post adjusting entries to the T-accounts. Cash Accounts Receivable ..Il Verizon LTE 21% 0 12:27 PM CH4 HW Cash 100 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings Service Revenue Maintenance and Repairs Expense Supplies Expense Depreciation Expense ..Il Verizon LTE 21% 0 12:27 PM CH4 HW FLOUNDER WINDOW WASHING CO. Trial Balance Prepare the income statement for July. FLOUNDER WINDOW WASHING CO. Income Statement Prepare an owner's equity statement for July. (List items that increase owner's equity first.) FLOUNDER WINDOW WASHING CO. Owner's Equity Statement il Verizon LTE 12:27 PM 21%O CH4 HW Prepare an owner's equity statement for July (List items that increase owner's equity first.) FLOUNDER WINDOW WASHING CO. Owner's Equity Statement Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) FLOUNDER WINDOW WASHING CO. Balance Sheet Assets Liabilities and Owner's Equity Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) . Verizon LTE 12:27 PM 21% 0 CH4 HW Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Post closing entries and complete the closing process. (For accounts that have zero ending balance, the entry should be the balance date and zero for the amount. Post entries in the order of journal entries presented.) Cash 18.00 105 Malat Accounts Receivable Supplies Prepaid Insurance 3 Equipment ccumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable . 21% 0 Verizon LTE 12:28 PM CH4 HW r er or memes presene a Cash 10.100 3075 Accounts Receivable Supplies Prepaid Insurance . Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings Income Summary Service Revenue HU Maintenance and Repairs Expense Supplies Expense ..1 Verizon LTE 21% 0 12:28 PM CH4 HW Owner's Drawings Income Summary Service Revenue Maintenance and Repairs Expense Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Prepare a post-closing trial balance at July 31. FLOUNDER WINDOW WASHING CO. PestClusia Trial Balance