ACC 100 Week 4 Assignment
Mike Greenberg opened Indigo Window Washing Co. on July 1, 2020. During July, the following transactions were completed.
July 1 | Owner invested $13,900 cash in the company. | ||
1 | Purchased used truck for $9,280, paying $2,320 cash and the balance on account. | ||
3 | Purchased cleaning supplies for $1,040 on account. | ||
5 | Paid $2,040 cash on a 1-year insurance policy effective July 1. | ||
12 | Billed customers $4,290 for cleaning services performed. | ||
18 | Paid $1,160 cash on amount owed on truck and $580 on amount owed on cleaning supplies. | ||
20 | Paid $2,320 cash for employee salaries. | ||
21 | Collected $1,860 cash from customers billed on July 12. | ||
25 | Billed customers $2,900 for cleaning services performed. | ||
31 | Paid $340 for maintenance of the truck during month. | ||
31 | Owner withdrew $700 cash from the company. https://hwacer.com/Tutorial/acc-100-week-4-assignment/ |
- Journalize the July transactions.
- Post to the ledger accounts.
- Prepare a trial balance at July 31.
- 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 $1,970. | ||
2. | Depreciation on equipment for the month was $210. | ||
3. | One-twelfth of the insurance expired. | ||
4. | A count shows $370 of cleaning supplies on hand at July 31. | ||
5. | Accrued but unpaid employee salaries were $460. |
- Post adjusting entries to the T-accounts.
- Prepare an adjusted trial balance.
All done 100% marks!!!!!