Chloe has done the accounting through August 16, the first sixteen days of business for her company. She has given you her trial balance as of August 16, 2019, as follows. Chloe’s Cleaning ServicesUNADJUSTED TRIAL BALANCEAugust 16, 2019  ACCOUNT TITLEDEBITCREDIT1Cash7,710.00 2Accounts Receivable4,575.00 3Supplies3,200.00 4Equipment7,500.00 5Accounts Payable 3,350.006Wages Payable 360.007Chloe Sanderson, Capital 20,000.008Fees Earned 5,500.009Wages Expense3,600.00 10Insurance Expense100.00 11Supplies Expense1,300.00 12Repairs Expense250.00 13Advertising Expense550.00 14Utilities Expense350.00 15Miscellaneous Expense75.00 16Totals29,210.0029,210.00  Chloe has prepared the following table, showing the balances as of August 16 for her Accounts Receivable Subsidiary Ledger and Accounts Payable Subsidiary Ledger.Accounts Receivable Subsidiary Ledger BalancesCustomer NameBalance as of August 16Central Medical Offices, Inc.$2,500Functional Fitness Company800Omega Multiplex Theater1,275 Accounts Payable Subsidiary Ledger BalancesVendor NameBalance as of August 16Cleaning Supplies Warehouse$2,750Sudsy’s Laundry600 Now that the remaining August transactions have been entered, Chloe feels confident enough to complete the end-of-month totals and posting.Help Chloe finish her accounting for the month by computing the following amounts.AccountBalance as of August 31, 2019Cash Accounts Receivable Accounts Payable Accounts Receivable Subsidiary Ledger for Central Medical Offices, Inc. Accounts Receivable Subsidiary Ledger for Functional Fitness Company Accounts Receivable Subsidiary Ledger for Omega Multiplex Theater Accounts Payable Subsidiary Ledger for Cleaning Supplies Warehouse Accounts Payable Subsidiary Ledger for Sudsy’s Laundry Wages Expense

Question
Asked Oct 26, 2019
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Chloe has done the accounting through August 16, the first sixteen days of business for her company. She has given you her trial balance as of August 16, 2019, as follows.
 
Chloe’s Cleaning Services
UNADJUSTED TRIAL BALANCE
August 16, 2019
 
  ACCOUNT TITLE DEBIT CREDIT
1
Cash
7,710.00
 
2
Accounts Receivable
4,575.00
 
3
Supplies
3,200.00
 
4
Equipment
7,500.00
 
5
Accounts Payable
 
3,350.00
6
Wages Payable
 
360.00
7
Chloe Sanderson, Capital
 
20,000.00
8
Fees Earned
 
5,500.00
9
Wages Expense
3,600.00
 
10
Insurance Expense
100.00
 
11
Supplies Expense
1,300.00
 
12
Repairs Expense
250.00
 
13
Advertising Expense
550.00
 
14
Utilities Expense
350.00
 
15
Miscellaneous Expense
75.00
 
16
Totals
29,210.00
29,210.00
 
 
Chloe has prepared the following table, showing the balances as of August 16 for her Accounts Receivable Subsidiary Ledger and Accounts Payable Subsidiary Ledger.
Accounts Receivable Subsidiary Ledger Balances
Customer Name Balance as of August 16
Central Medical Offices, Inc. $2,500
Functional Fitness Company 800
Omega Multiplex Theater 1,275
 
Accounts Payable Subsidiary Ledger Balances
Vendor Name Balance as of August 16
Cleaning Supplies Warehouse $2,750
Sudsy’s Laundry 600
 
Now that the remaining August transactions have been entered, Chloe feels confident enough to complete the end-of-month totals and posting.
Help Chloe finish her accounting for the month by computing the following amounts.
Account
Balance as of August 31, 2019
Cash
 
Accounts Receivable
 
Accounts Payable
 
Accounts Receivable Subsidiary Ledger for Central Medical Offices, Inc.
 
Accounts Receivable Subsidiary Ledger for Functional Fitness Company
 
Accounts Receivable Subsidiary Ledger for Omega Multiplex Theater
 
Accounts Payable Subsidiary Ledger for Cleaning Supplies Warehouse
 
Accounts Payable Subsidiary Ledger for Sudsy’s Laundry
 
Wages Expense
 
 
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Expert Answer

Step 1

Calculate the cash balance as of August 31, 2019.

 

The cash balance as of August 31, 2019 is the balance of cash from trial balance, which is, $7,710.

Step 2

Calculate the Accounts Receivable balance as of August 31, 2019.

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(Balance from trial balance -Payment received from Central medi cal offices, Inc Accounts Receivable = $4,575-$2.500 = $2,075

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Step 3

Calculate the Accounts Payable balance as of August 31, 2019.

 

The Accounts payable balance as of August 31, 20...

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