Current Attempt in Progress Mike Greenberg opened Flounder Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $ 10,100 cash in the company. 1 Purchased used truck for $ 6,720, paying $ 1,680 cash and the balance on account. 3 Purchased cleaning supplies for $ 760 on account. 5 Paid $ 1,560 cash on a 1-year insurance policy effective July 1. 12 Billed customers $ 3,110 for cleaning services performed. 18 Paid $ 840 cash on amount owed on truck and $ 420 on amount owed on cleaning supplies. 20 Paid $ 1,680 cash for employee salaries. 21 Collected $ 1,340 cash from customers billed on July 12. 25 Billed customers $ 2,100 for cleaning services performed. 31 Paid $ 240 for maintenance of the truck during month. 31 Owner withdrew $ 500 cash from the company. (a) 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.) Date Account Titles and Explanation Debit Credit (To record cash invested in the business) (To record purchase of truck.) (To record maintenance of the truck) (To record owner withdraws) eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.16 (b) Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner’s Drawings Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.16 (c) Prepare a trial balance at July 31. FLOUNDER WINDOW WASHING CO. Trial Balance Debit Credit $ $ Totals $ $ eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.17 (d) 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. 5. Accrued but unpaid employee salaries were $ 340. Sr. Date Account Titles and Explanation Debit Credit 1. July 31 2. July 31 3. July 31 4. July 31 5. July 31 eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.17 (e) Post adjusting entries to the T-accounts. Cash 7/1 10,100 7/1 1,680 7/21 1,340 7/5 1,560 7/18 1,260 7/20 1,680 7/31 240 7/31 500 7/31 Bal. 4,520 Accounts Receivable 7/12 3,110 7/21 1,340 7/25 2,100 Supplies 7/3 760 Prepaid Insurance 7/5 1,560 Equipment 7/1 6,720 7/31 Bal. 6,720 Accumulated Depreciation-Equipment Accounts Payable 7/18 1,260 7/1 5,040 7/3 760 7/31 Bal. 4,540 Salaries and Wages Payable Owner's Capital 7/1 10,100 7/31 Bal. 10,100 Owner’s Drawings 7/31 500 Bal. 500 Service Revenue 7/12 3,110 7/25 2,100 Maintenance and Repairs Expense 7/31 240 Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense 7/20 1,680 eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.17 (f) Prepare an adjusted trial balance. FLOUNDER WINDOW WASHING CO. Trial Balance Debit Credit $ $ Totals $ $ eTextbook and Media List of Accounts Attempts: 0 of 3 used

Current Attempt in Progress Mike Greenberg opened Flounder Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $ 10,100 cash in the company. 1 Purchased used truck for $ 6,720, paying $ 1,680 cash and the balance on account. 3 Purchased cleaning supplies for $ 760 on account. 5 Paid $ 1,560 cash on a 1-year insurance policy effective July 1. 12 Billed customers $ 3,110 for cleaning services performed. 18 Paid $ 840 cash on amount owed on truck and $ 420 on amount owed on cleaning supplies. 20 Paid $ 1,680 cash for employee salaries. 21 Collected $ 1,340 cash from customers billed on July 12. 25 Billed customers $ 2,100 for cleaning services performed. 31 Paid $ 240 for maintenance of the truck during month. 31 Owner withdrew $ 500 cash from the company. (a) 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.) Date Account Titles and Explanation Debit Credit (To record cash invested in the business) (To record purchase of truck.) (To record maintenance of the truck) (To record owner withdraws) eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.16 (b) Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner’s Drawings Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.16 (c) Prepare a trial balance at July 31. FLOUNDER WINDOW WASHING CO. Trial Balance Debit Credit $ $ Totals $ $ eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.17 (d) 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. 5. Accrued but unpaid employee salaries were $ 340. Sr. Date Account Titles and Explanation Debit Credit 1. July 31 2. July 31 3. July 31 4. July 31 5. July 31 eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.17 (e) Post adjusting entries to the T-accounts. Cash 7/1 10,100 7/1 1,680 7/21 1,340 7/5 1,560 7/18 1,260 7/20 1,680 7/31 240 7/31 500 7/31 Bal. 4,520 Accounts Receivable 7/12 3,110 7/21 1,340 7/25 2,100 Supplies 7/3 760 Prepaid Insurance 7/5 1,560 Equipment 7/1 6,720 7/31 Bal. 6,720 Accumulated Depreciation-Equipment Accounts Payable 7/18 1,260 7/1 5,040 7/3 760 7/31 Bal. 4,540 Salaries and Wages Payable Owner's Capital 7/1 10,100 7/31 Bal. 10,100 Owner’s Drawings 7/31 500 Bal. 500 Service Revenue 7/12 3,110 7/25 2,100 Maintenance and Repairs Expense 7/31 240 Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense 7/20 1,680 eTextbook and Media List of Accounts Attempts: 0 of 3 used Question Part Score --/0.17 (f) Prepare an adjusted trial balance. FLOUNDER WINDOW WASHING CO. Trial Balance Debit Credit $ $ Totals $ $ eTextbook and Media List of Accounts Attempts: 0 of 3 used

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 4PA: On March 1 of this year, B. Gervais established Gervais Catering Service. The account headings are...

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(a)

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.)

Date	Account Titles and Explanation	Debit	Credit



	(To record cash invested in the business)




	(To record purchase of truck.)



	(To record maintenance of the truck)



	(To record owner withdraws)

eTextbook and Media

List of Accounts

Attempts: 0 of 3 used

Question Part Score

--/0.16

(b)

Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.)

Cash

Accounts Receivable

Supplies

Prepaid Insurance

Equipment

Accounts Payable

Owner's Capital

Owner’s Drawings

Service Revenue

Maintenance and Repairs Expense

Salaries and Wages Expense

eTextbook and Media

List of Accounts

Attempts: 0 of 3 used

Question Part Score

--/0.16

(c)

Prepare a trial balance at July 31.

FLOUNDER WINDOW WASHING CO.
Trial Balance


	Debit	Credit
	$	$










Totals	$	$

eTextbook and Media

List of Accounts

Attempts: 0 of 3 used

Question Part Score

--/0.17

(d)

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.
5.		Accrued but unpaid employee salaries were $ 340.

Sr.	Date	Account Titles and Explanation	Debit	Credit
1.	July 31

2.	July 31

3.	July 31

4.	July 31

5.	July 31

eTextbook and Media

List of Accounts

Attempts: 0 of 3 used

Question Part Score

--/0.17

(e)

Post adjusting entries to the T-accounts.

Cash
7/1	10,100	7/1	1,680
7/21	1,340	7/5	1,560
		7/18	1,260
		7/20	1,680
		7/31	240
		7/31	500
7/31 Bal.	4,520

Accounts Receivable
7/12	3,110	7/21	1,340
7/25	2,100

Supplies
7/3	760

Prepaid Insurance
7/5	1,560

Equipment
7/1	6,720
7/31 Bal.	6,720

Accumulated Depreciation-Equipment

Accounts Payable
7/18	1,260	7/1	5,040
		7/3	760
		7/31 Bal.	4,540

Salaries and Wages Payable

Owner's Capital
	7/1	10,100
	7/31 Bal.	10,100

Owner’s Drawings
7/31	500
Bal.	500

Service Revenue

		7/12	3,110

		7/25	2,100

Maintenance and Repairs Expense
7/31	240

Supplies Expense

Depreciation Expense

Insurance Expense

Salaries and Wages Expense
7/20	1,680

eTextbook and Media

List of Accounts

Attempts: 0 of 3 used

Question Part Score

--/0.17

(f)

Prepare an adjusted trial balance.

FLOUNDER WINDOW WASHING CO.
Trial Balance


	Debit	Credit
	$	$















Totals	$	$

eTextbook and Media

List of Accounts

Attempts: 0 of 3 used

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July 1		Owner invested $ 10,100 cash in the company.
1		Purchased used truck for $ 6,720, paying $ 1,680 cash and the balance on account.
3		Purchased cleaning supplies for $ 760 on account.
5		Paid $ 1,560 cash on a 1-year insurance policy effective July 1.
12		Billed customers $ 3,110 for cleaning services performed.
18		Paid $ 840 cash on amount owed on truck and $ 420 on amount owed on cleaning supplies.
20		Paid $ 1,680 cash for employee salaries.
21		Collected $ 1,340 cash from customers billed on July 12.
25		Billed customers $ 2,100 for cleaning services performed.
31		Paid $ 240 for maintenance of the truck during month.
31		Owner withdrew $ 500 cash from the company.