Carma Garcia opened Shifting Sands Cleaning Service on August 1, 2019. During August, the company completed the following transactions: Aug1 Carma Garcia invested $45,530 cash and $8,765 of cleaning equipment in the business. 1 Purchased a used truck for $10,500, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $1,985 on account. 5 Paid $1,800 on a one-year insurance policy, effective August 1. 8 Received $1,650 from customer for future cleaning services. 12 Billed customers $5,830 for cleaning services. 18 Paid $2,000 of amount owed on truck. 20 Paid $1,672 for employee salaries. 21 Collected $3,795 from customers billed on August 12. 25 Billed customers $4,369 for cleaning services. 31 Paid gasoline for the month on the truck, $325. 31 Owner withdrew $1,000 for personal use. Adjustments: Aug31 Earned but unbilled fees at August 31 were $2,145. Depreciation on truck for the month was $175. Earned $450 of payment received on August 8. One-twelfth of the insurance expired. An inventory count shows $547 of cleaning supplies on hand at August 31. Accrued but unpaid employee salaries were $689. Prepare an adjusted trial balance at August 31. Prepare the Income Statement and Statement of Owners Equity for August. Prepare a classified Balance Sheet at August 31, 2019
Carma Garcia opened Shifting Sands Cleaning Service on August 1, 2019. During August, the company completed the following transactions:
Aug1 Carma Garcia invested $45,530 cash and $8,765 of cleaning equipment in the business.
1 Purchased a used truck for $10,500, paying $4,000 cash and the balance on account.
3 Purchased cleaning supplies for $1,985 on account.
5 Paid $1,800 on a one-year insurance policy, effective August 1.
8 Received $1,650 from customer for future cleaning services.
12 Billed customers $5,830 for cleaning services.
18 Paid $2,000 of amount owed on truck.
20 Paid $1,672 for employee salaries.
21 Collected $3,795 from customers billed on August 12.
25 Billed customers $4,369 for cleaning services.
31 Paid gasoline for the month on the truck, $325.
31 Owner withdrew $1,000 for personal use.
Adjustments:
Aug31 Earned but unbilled fees at August 31 were $2,145.
Earned $450 of payment received on August 8.
One-twelfth of the insurance expired.
An inventory count shows $547 of cleaning supplies on hand at August 31.
Accrued but unpaid employee salaries were $689.
Prepare an adjusted
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