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v-x. GP Pro Inc. opened ProCleaners on March 1, 2022. During March, the following transactions were completed Mar 1 Issued 10,000 shares of common stock
v-x. GP Pro Inc. opened ProCleaners on March 1, 2022. During March, the following transactions were completed Mar 1 Issued 10,000 shares of common stock for $15,000 cash 1 Borrowed $6.000 cash by signing a 6-month, 6$6,000 note payable Interest will be paid the first day of each subsequent month 1 Purchased used truck for $8,000 cash 2 Paid $1,500 cash to cover rent from March 1 through May 31 3 Pald $2,400 cash on a 6-month insurance policy effective March 1 6 Purchased cleaning supplies for $2,000 on account 14 Billed customers $3,700 for cleaning services performed 18 Paid $500 on amount owed on cleaning supplies 20 Paid $1,750 cash for employee salaries 21 Collected $1,600 cash from customers billed on March 14 28 Billed customers $4,200 for cleaning services performed 31 Paid $350 for gas and oil used in truck during month (use Maintenance and Repairs Expense) 31 Declared and paid a $900 cash dividend The chart of accounts for ProCleaners contains the following accounts 11 Cash 32 Retained Earnings 12 Accounts Receivable 33 Dividends 13 Supplies 34 Income Summary 14 Prepaid Insurance 41 Service Revenue 15 Prepaid Rent 51 Maintenance and Repairs Expense 16 Equipment 52 Supplies Expense 17 Accumulated Depreciation Equipment 53 Depreciation Expense 21 Accounts Payable 54 Insurance Expense 22 Salaries and Wages Payable 55 Salaries and Wages Expense 23 Notes Payable 56 Rent Expense 24 Interest Payable 57 Interest Expense 31 Common Stock Instructions Journalize the March transactions (page 1) Post to the ledger accounts Prepare an unadjusted trial balance at March 31 Journalize the following adjustments (Page 2) A Services performed but unbilled and uncollected at March 31 was $200 B Depreciation on equipment for the month was $250 C One-sixth of the insurance expired D An inventory count shows $280 of cleaning supplies on hand at March 31 E Accrued but unpaid employee salaries were $1,080 F One month of the prepaid rent has expired G One month of interest expense related to the note payable has accrued and will be paid April 1 Post adjusting entries to the ledger accounts Prepare an adjusted trial balance Prepare a 10 column Worksheet Prepare the income statement and a retained earnings statement for March and a classified balance sheet at March 31 Journalize (page 3) and post closing entries and complete the closing process Prepare a post-closing trial balance at March 31 > 3 9:31 To Come Stock To Ne Payable Equipecat (inck Prepaid Rent To Cash Presidence Supplies To Acoust Page AR To Cach Salaries and Wages Fapene To Ch Cash To Acounts Receivable Accueil To Service Rescue Mainimance and Repairs Expie 350 To Cach PE To Come Stock To No Payable To Accounts Receivable Cash Accent Particular 15.000 By Equip a da Oy Pro By Pepice By Accounts Payable Hy Salaries and expense 1990 My Maintenance and Rapun pe 150 Ty Dividend By Balanced Arts Reche 3700 To Service Heves To Service Revec By Cash By Balance Ament Particular To Ac h ie Hy Halanced Accounts Payable Puric By Balanced 9:31 Y LTE Equipment (Track) Am Particular Answer 1 of 1 To Cart one Prepaid muran Amen Particular Ry Balanced A Prepaid Rent Particular By Baba Dhidend Particular A By Balance Unadjusted Tr Balance Accounts Receivable Equipment Truck) Propodine Acte Payable Como Suck Service Revenue Salaries and Wages Expense 1750 Mince and e xpense 350 Accounts Receivable Te Son Depreciation Expense To odpocitemen Insurance Expense (2006) Taide Supplica per To Supplies CO) Salaries and W est To salaries and Wages able Rest Expense (15003) To Prepaid Expense ToInterat Payable wait for m e parts Surry in Advance Please re-post balance par t with tral ba th pe you understood If you have any place . The
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