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Journalize the following adjustments. 1. Services provided

Customer Question

Journalize the following adjustments.

1. Services provided but unbilled and uncollected at July 31 were $1,700.
2. Depreciation on equipment for the month was $250.
3. One-twelfth of the insurance expired.
4. An inventory count shows $360 of cleaning supplies on hand at July 31.
5. Accrued but unpaid employee salaries were $400

Post the July transactions to the ledger accounts. (Use T accounts.) Post adjusting entries to the T accounts. Post closing entries and complete the closing process. (If answer is zero, please enter 0, do not leave any fields blank.)

Can you please help me. I am still learning but somewhat confused.This is part of the segement that you helped me with. Will tip good.Date Account/Description Debit Credit
1. July 31 Cleaning SuppliesRetained EarningsPrepaid InsuranceSalaries PayableInsurance ExpenseEquipmentCashAccounts ReceivableDepreciation ExpenseCommon StockDividendsService RevenueSalaries ExpenseGas & Oil ExpenseCleaning Supplies ExpenseAccumulated DepreciationAccounts Payable
Salaries PayableCashSalaries ExpenseCommon StockEquipmentDividendsPrepaid InsuranceGas & Oil ExpenseAccounts ReceivableCleaning Supplies ExpenseRetained EarningsInsurance ExpenseAccumulated DepreciationDepreciation ExpenseService RevenueAccounts PayableCleaning Supplies
2. July 31 CashAccounts ReceivableService RevenueDividendsAccumulated DepreciationRetained EarningsSalaries PayableDepreciation ExpenseAccounts PayableEquipmentSalaries ExpenseCleaning SuppliesCommon StockPrepaid InsuranceGas & Oil ExpenseCleaning Supplies ExpenseInsurance Expense
Cleaning SuppliesCashEquipmentDividendsAccumulated DepreciationAccounts ReceivableRetained EarningsSalaries PayableDepreciation ExpenseCommon StockPrepaid InsuranceAccounts PayableService RevenueInsurance ExpenseSalaries ExpenseGas & Oil ExpenseCleaning Supplies Expense
3. July 31 Common StockEquipmentSalaries PayableSalaries ExpenseCashGas & Oil ExpenseCleaning SuppliesAccumulated DepreciationDividendsPrepaid InsuranceInsurance ExpenseDepreciation ExpenseAccounts ReceivableRetained EarningsAccounts PayableService RevenueCleaning Supplies Expense
EquipmentCleaning Supplies ExpenseDividendsCleaning SuppliesAccounts PayableSalaries ExpenseCashAccounts ReceivableDepreciation ExpensePrepaid InsuranceInsurance ExpenseCommon StockGas & Oil ExpenseRetained EarningsService RevenueAccumulated DepreciationSalaries Payable
4. July 31 EquipmentPrepaid InsuranceAccounts ReceivableCommon StockService RevenueAccumulated DepreciationCashSalaries ExpenseGas & Oil ExpenseSalaries PayableDividendsDepreciation ExpenseInsurance ExpenseRetained EarningsCleaning Supplies ExpenseAccounts PayableCleaning Supplies
CashAccounts ReceivableAccounts PayableCleaning Supplies ExpenseRetained EarningsGas & Oil ExpenseSalaries ExpenseInsurance ExpenseCleaning SuppliesEquipmentCommon StockSalaries PayableAccumulated DepreciationService RevenuePrepaid InsuranceDividendsDepreciation Expense
5. July 31 DividendsAccumulated DepreciationRetained EarningsService RevenueInsurance ExpenseDepreciation ExpenseSalaries PayableEquipmentGas & Oil ExpenseSalaries ExpenseAccounts PayableCleaning Supplies ExpenseCleaning SuppliesCashPrepaid InsuranceCommon StockAccounts Receivable
Salaries PayableCleaning Supplies ExpenseAccounts ReceivablePrepaid InsuranceEquipmentService RevenueDividendsInsurance ExpenseCommon StockRetained EarningsGas & Oil ExpenseSalaries ExpenseAccumulated DepreciationDepreciation ExpenseAccounts PayableCleaning SuppliesCash


I




Post the July transactions to the ledger accounts. (Use T accounts.) Post adjusting entries to the T accounts. Post closing entries and complete the closing process. (If answer is zero, please enter 0, do not leave any fields blank.)

Cash Accounts Payable
7/1 7/1 7/18 7/1
7/21 7/5

7/3


7/18 7/31 Bal.
7/20
7/31 Salaries Payable



7/31



7/31


7/31 Bal. 7/31 Bal.


Accounts Receivable
Common Stock

7/12 7/21

7/1


7/25 7/31 Bal.

7/31



7/31 Bal. Retained Earnings

7/31
7/31


Cleaning Supplies
7/31 Bal.
7/3
7/31


7/31 Bal. Dividends
7/31 7/31
7/31 Bal
Prepaid Insurance

7/5
7/31

Income Summary

7/31 Bal. 7/31 7/31
7/31



Equipment
7/31 Bal.
7/1



7/31 Bal. Service Revenue
7/31 7/12
Accumulated Depreciation - Equipment
7/25

7/31



7/31


7/31 Ba
Submitted: 2 years ago.
Category: Single Problem
Expert:  linda_us replied 2 years ago.
Thanks for requesting me. I am working on it.

Regards

Linda
Customer: replied 2 years ago.
P4-8A

Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. During July the following transactions were completed.

 

July 1Issued 11,000 shares of common stock for $11,000 cash.
July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance on account.
July 3Purchased cleaning supplies for $900 on account.
July 5Paid $1,800 cash on 1-year insurance policy effective July 1.
July 12Billed customers $3,200 for cleaning services.
July 18Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
July 20Paid $2,000 cash for employee salaries.
July 21Collected $1,400 cash from customers billed on July 12.
July 25 Billed customers $2,500 for cleaning services.
July 31 Paid $260 for gas and oil used in the truck during month.
July 31 Declared and paid a $600 cash dividend.

 

Journalize the July transactions. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

 

DateAccount/DescriptionDebitCredit
July 1EquipmentAccounts ReceivableAccumulated DepreciationDividendsRetained EarningsCommon StockCleaning SuppliesAccounts PayableCashSalaries PayablePrepaid InsuranceService RevenueCleaning Supplies ExpenseDepreciation ExpenseSalaries ExpenseGas & Oil ExpenseInsurance Expense
Depreciation ExpenseInsurance ExpenseService RevenueDividendsRetained EarningsCommon StockAccounts ReceivablePrepaid InsuranceCleaning SuppliesCashEquipmentSalaries PayableAccounts PayableCleaning Supplies ExpenseSalaries ExpenseGas & Oil ExpenseAccumulated Depreciation
(To record the issuance of stock)
July 1Common StockCashAccounts ReceivableAccumulated DepreciationRetained EarningsPrepaid InsuranceService RevenueSalaries ExpenseGas & Oil ExpenseEquipmentAccounts PayableCleaning Supplies ExpenseSalaries PayableDividendsDepreciation ExpenseInsurance ExpenseCleaning Supplies
Cleaning SuppliesAccumulated DepreciationSalaries PayableDepreciation ExpenseDividendsCashAccounts ReceivableInsurance ExpenseRetained EarningsPrepaid InsuranceCleaning Supplies ExpenseCommon StockService RevenueAccounts PayableEquipmentSalaries ExpenseGas & Oil Expense
Accumulated DepreciationAccounts ReceivableDividendsCommon StockDepreciation ExpenseInsurance ExpenseSalaries PayableEquipmentCleaning Supplies ExpenseGas & Oil ExpenseRetained EarningsPrepaid InsuranceCashService RevenueAccounts PayableCleaning SuppliesSalaries Expense
(To record the purchase of a truck)
July 3Gas & Oil ExpenseCleaning Supplies ExpenseCleaning SuppliesAccumulated DepreciationDividendsCommon StockSalaries PayableCashEquipmentPrepaid InsuranceAccounts PayableDepreciation ExpenseAccounts ReceivableInsurance ExpenseService RevenueSalaries ExpenseRetained Earnings
Common StockDividendsAccounts PayableRetained EarningsDepreciation ExpenseCleaning SuppliesGas & Oil ExpenseInsurance ExpenseCleaning Supplies ExpenseAccumulated DepreciationSalaries PayableCashEquipmentService RevenuePrepaid InsuranceSalaries ExpenseAccounts Receivable
July 5DividendsAccounts PayableCommon StockSalaries PayableDepreciation ExpenseService RevenueRetained EarningsInsurance ExpenseEquipmentPrepaid InsuranceAccounts ReceivableGas & Oil ExpenseCleaning SuppliesCashSalaries ExpenseCleaning Supplies ExpenseAccumulated Depreciation
Retained EarningsSalaries PayableCashCleaning SuppliesService RevenueDividendsCommon StockEquipmentAccounts PayablePrepaid InsuranceGas & Oil ExpenseCleaning Supplies ExpenseAccounts ReceivableSalaries ExpenseAccumulated DepreciationDepreciation ExpenseInsurance Expense
July 12Insurance ExpenseCashAccounts PayableDepreciation ExpensePrepaid InsuranceSalaries ExpenseRetained EarningsDividendsAccounts ReceivableCleaning SuppliesEquipmentService RevenueGas & Oil ExpenseSalaries PayableCleaning Supplies ExpenseAccumulated DepreciationCommon Stock
Insurance ExpenseCommon StockRetained EarningsService RevenueSalaries ExpenseGas & Oil ExpenseAccounts PayableCleaning SuppliesPrepaid InsuranceAccounts ReceivableEquipmentCleaning Supplies ExpenseAccumulated DepreciationCashSalaries PayableDividendsDepreciation Expense
July 18Gas & Oil ExpenseEquipmentCleaning Supplies ExpenseService RevenueDepreciation ExpensePrepaid InsuranceInsurance ExpenseRetained EarningsAccounts ReceivableCommon StockAccumulated DepreciationSalaries ExpenseAccounts PayableCleaning SuppliesCashSalaries PayableDividends
Salaries ExpenseDepreciation ExpenseInsurance ExpenseEquipmentGas & Oil ExpenseRetained EarningsCommon StockCashAccounts ReceivableAccounts PayableCleaning SuppliesService RevenuePrepaid InsuranceCleaning Supplies ExpenseAccumulated DepreciationSalaries PayableDividends
July 20Cleaning Supplies ExpenseCashCommon StockAccumulated DepreciationSalaries PayableService RevenueEquipmentAccounts PayableRetained EarningsPrepaid InsuranceDividendsAccounts ReceivableGas & Oil ExpenseInsurance ExpenseDepreciation ExpenseSalaries ExpenseCleaning Supplies
Accounts PayableCashSalaries ExpenseCleaning SuppliesGas & Oil ExpenseService RevenueCleaning Supplies ExpenseSalaries PayableDividendsEquipmentPrepaid InsuranceAccounts ReceivableAccumulated DepreciationDepreciation ExpenseInsurance ExpenseCommon StockRetained Earnings
July 21Retained EarningsDepreciation ExpenseCleaning SuppliesCashPrepaid InsuranceCommon StockEquipmentAccounts PayableAccounts ReceivableService RevenueSalaries ExpenseGas & Oil ExpenseCleaning Supplies ExpenseAccumulated DepreciationInsurance ExpenseSalaries PayableDividends
CashSalaries ExpenseDividendsDepreciation ExpenseAccumulated DepreciationEquipmentCommon StockPrepaid InsuranceSalaries PayableAccounts PayableInsurance ExpenseService RevenueCleaning Supplies ExpenseGas & Oil ExpenseRetained EarningsAccounts ReceivableCleaning Supplies
July 25CashRetained EarningsInsurance ExpensePrepaid InsuranceAccumulated DepreciationSalaries PayableDividendsCleaning SuppliesDepreciation ExpenseAccounts ReceivableCommon StockEquipmentAccounts PayableService RevenueSalaries ExpenseGas & Oil ExpenseCleaning Supplies Expense
Gas & Oil ExpenseDepreciation ExpenseAccounts ReceivableSalaries ExpenseAccumulated DepreciationDividendsInsurance ExpensePrepaid InsuranceCleaning Supplies ExpenseSalaries PayableAccounts PayableRetained EarningsEquipmentService RevenueCleaning SuppliesCashCommon Stock
July 31Salaries PayableCleaning SuppliesDividendsAccumulated DepreciationDepreciation ExpenseEquipmentInsurance ExpenseRetained EarningsCashGas & Oil ExpenseCommon StockCleaning Supplies ExpenseAccounts PayablePrepaid InsuranceAccounts ReceivableService RevenueSalaries Expense
Service RevenueAccounts ReceivableDividendsEquipmentSalaries ExpenseRetained EarningsDepreciation ExpenseInsurance ExpenseAccounts PayablePrepaid InsuranceCleaning SuppliesGas & Oil ExpenseCleaning Supplies ExpenseAccumulated DepreciationSalaries PayableCashCommon Stock
(Paid for gas and oil)
July 31Common StockCleaning Supplies ExpenseGas & Oil ExpenseDividendsSalaries ExpenseInsurance ExpenseAccumulated DepreciationDepreciation ExpenseSalaries PayableAccounts ReceivableCleaning SuppliesRetained EarningsCashEquipmentAccounts PayablePrepaid InsuranceService Revenue
EquipmentService RevenueAccounts PayableCashSalaries ExpenseDividendsDepreciation ExpenseInsurance ExpenseAccumulated DepreciationPrepaid InsuranceGas & Oil ExpenseAccounts ReceivableRetained EarningsCleaning Supplies ExpenseCleaning SuppliesSalaries PayableCommon Stock
(Declared and paid a dividend)

 

Journalize the following adjustments.

 

1.Services provided but unbilled and uncollected at July 31 were $1,700.
2.Depreciation on equipment for the month was $250.
3.One-twelfth of the insurance expired.
4.An inventory count shows $360 of cleaning supplies on hand at July 31.
5.Accrued but unpaid employee salaries were $400.

 

DateAccount/DescriptionDebitCredit
1. July 31Cleaning SuppliesRetained EarningsPrepaid InsuranceSalaries PayableInsurance ExpenseEquipmentCashAccounts ReceivableDepreciation ExpenseCommon StockDividendsService RevenueSalaries ExpenseGas & Oil ExpenseCleaning Supplies ExpenseAccumulated DepreciationAccounts Payable
Salaries PayableCashSalaries ExpenseCommon StockEquipmentDividendsPrepaid InsuranceGas & Oil ExpenseAccounts ReceivableCleaning Supplies ExpenseRetained EarningsInsurance ExpenseAccumulated DepreciationDepreciation ExpenseService RevenueAccounts PayableCleaning Supplies
2. July 31CashAccounts ReceivableService RevenueDividendsAccumulated DepreciationRetained EarningsSalaries PayableDepreciation ExpenseAccounts PayableEquipmentSalaries ExpenseCleaning SuppliesCommon StockPrepaid InsuranceGas & Oil ExpenseCleaning Supplies ExpenseInsurance Expense
Cleaning SuppliesCashEquipmentDividendsAccumulated DepreciationAccounts ReceivableRetained EarningsSalaries PayableDepreciation ExpenseCommon StockPrepaid InsuranceAccounts PayableService RevenueInsurance ExpenseSalaries ExpenseGas & Oil ExpenseCleaning Supplies Expense
3. July 31Common StockEquipmentSalaries PayableSalaries ExpenseCashGas & Oil ExpenseCleaning SuppliesAccumulated DepreciationDividendsPrepaid InsuranceInsurance ExpenseDepreciation ExpenseAccounts ReceivableRetained EarningsAccounts PayableService RevenueCleaning Supplies Expense
EquipmentCleaning Supplies ExpenseDividendsCleaning SuppliesAccounts PayableSalaries ExpenseCashAccounts ReceivableDepreciation ExpensePrepaid InsuranceInsurance ExpenseCommon StockGas & Oil ExpenseRetained EarningsService RevenueAccumulated DepreciationSalaries Payable
4. July 31EquipmentPrepaid InsuranceAccounts ReceivableCommon StockService RevenueAccumulated DepreciationCashSalaries ExpenseGas & Oil ExpenseSalaries PayableDividendsDepreciation ExpenseInsurance ExpenseRetained EarningsCleaning Supplies ExpenseAccounts PayableCleaning Supplies
CashAccounts ReceivableAccounts PayableCleaning Supplies ExpenseRetained EarningsGas & Oil ExpenseSalaries ExpenseInsurance ExpenseCleaning SuppliesEquipmentCommon StockSalaries PayableAccumulated DepreciationService RevenuePrepaid InsuranceDividendsDepreciation Expense
5. July 31DividendsAccumulated DepreciationRetained EarningsService RevenueInsurance ExpenseDepreciation ExpenseSalaries PayableEquipmentGas & Oil ExpenseSalaries ExpenseAccounts PayableCleaning Supplies ExpenseCleaning SuppliesCashPrepaid InsuranceCommon StockAccounts Receivable
Salaries PayableCleaning Supplies ExpenseAccounts ReceivablePrepaid InsuranceEquipmentService RevenueDividendsInsurance ExpenseCommon StockRetained EarningsGas & Oil ExpenseSalaries ExpenseAccumulated DepreciationDepreciation ExpenseAccounts PayableCleaning SuppliesCash

 

Post the July transactions to the ledger accounts. (Use T accounts.) Post adjusting entries to the T accounts. Post closing entries and complete the closing process. (If answer is zero, please enter 0, do not leave any fields blank.)

 

CashAccounts Payable
7/17/17/187/1
7/217/5

 

 

7/3

 

7/187/31 Bal.
7/20
7/31

Salaries Payable

 

 

7/31

 

 

 

7/31

 

7/31 Bal.7/31 Bal.

Accounts Receivable

Common Stock

7/127/21

 

 

7/1

 

7/257/31 Bal.

7/31

 

 

7/31 Bal.

Retained Earnings

7/31

7/31

 

Cleaning Supplies

7/31 Bal.

7/3

7/31

 

7/31 Bal.Dividends
7/317/31
7/31 Bal

Prepaid Insurance

7/5

7/31

 

Income Summary

7/31 Bal.7/317/31

7/31

 

 

Equipment

7/31 Bal.

7/1

 

 

7/31 Bal.Service Revenue
7/317/12

Accumulated Depreciation - Equipment

7/25

 

7/31

 

 

 

7/31

 

7/31 Bal.7/31 Bal.
Gas and Oil Expense

Insurance Expense

7/31

7/31

 

7/31

7/31

 

7/31 Bal.7/31 Bal.

Cleaning Supplies Expense

Salaries Expense

7/31

7/31

 

7/207/31
7/31 Bal.

7/31

 

 

7/31 Bal.

Depreciation Expense

7/31

7/31

 

7/31 Bal.

 

Complete the Trial Balance and Adjusted Trial Balance at July 31. (If an answer is zero, please enter 0, do not leave any fields blank.)

 

CARDINAL WINDOW WASHING INC.
Trial Balance

July 31, 2010

Before AdjustmentAfter Adjustment
DebitCreditDebitCredit
Cash$$$$
Accounts Receivable
Cleaning Supplies
Prepaid Insurance
Equipment
Acc. Depr. - Equipment
Accounts Payable
Salaries Payable
Common Stock
Dividends
Service Revenue
Salaries Expense
Gas & Oil Expense
Depreciation Expense
Insurance Expense
Cleaning Supplies Expense

 

 

 

 

$

$

$

$


 

Complete the income statement and a retained earnings statement for July and a classified balance sheet at July 31 (List expenses from largest to smallest amount, e.g. 10, 5, 2. List assets in order of liquidity and liabilities from largest to smallest amount, e.g. 10, 5, 2.)

 

CARDINAL WINDOW WASHING INC.
Income Statement

July 31, 2010For the Month Ended July 31, 2010

Revenues
Common StockInsurance ExpenseRetained EarningsGas & Oil ExpenseSalaries ExpenseCleaning SuppliesSalaries PayableDepreciation ExpensePrepaid InsuranceCleaning Supplies ExpenseService revenueAccounts PayableEquipmentCashAccounts ReceivableAccumulated DepreciationDividends$
Expenses
Insurance ExpenseRetained EarningsCleaning Supplies ExpenseDepreciation ExpenseSalaries ExpenseAccounts ReceivableAccumulated DepreciationGas & Oil ExpenseCashAccounts PayableSalaries PayableDividendsEquipmentCleaning SuppliesCommon StockPrepaid InsuranceService Revenue$
EquipmentGas & Oil ExpenseSalaries ExpenseAccumulated DepreciationCashSalaries PayableCommon StockCleaning SuppliesPrepaid InsuranceAccounts ReceivableService RevenueDividendsRetained EarningsDepreciation ExpenseAccounts PayableInsurance ExpenseCleaning Supplies Expense
DividendsAccumulated DepreciationPrepaid InsuranceGas & Oil ExpenseDepreciation ExpenseAccounts ReceivableEquipmentService RevenueInsurance ExpenseRetained EarningsSalaries ExpenseAccounts PayableCleaning Supplies ExpenseSalaries PayableCleaning SuppliesCommon StockCash
Accounts ReceivableService RevenueAccounts PayableSalaries PayableDividendsCashAccumulated DepreciationSalaries ExpenseGas & Oil ExpenseCleaning Supplies ExpenseRetained EarningsInsurance ExpenseCommon StockEquipmentDepreciation ExpensePrepaid InsuranceCleaning Supplies
Retained EarningsCleaning SuppliesCashAccounts PayableDividendsPrepaid InsuranceCommon StockGas & Oil ExpenseEquipmentSalaries ExpenseDepreciation ExpenseInsurance ExpenseAccounts ReceivableAccumulated DepreciationCleaning Supplies ExpenseService RevenueSalaries Payable

 

Total Expenses

 

Net Income

$

 

CARDINAL WINDOW WASHING INC.
Retained Earnings Statement

July 31, 2010For the Month Ended July 31, 2010

Cleaning Supplies ExpenseInsurance ExpenseAccounts ReceivableDividendsCashRetained earnings, July 1Net incomeRetained earnings, July 31Accounts PayableAccumulated DepreciationEquipmentGas & Oil ExpenseDepreciation ExpenseSalaries PayableCleaning SuppliesCommon StockPrepaid InsuranceService RevenueSalaries Expense$
Add: CashAccounts ReceivableNet incomeRetained earnings, July 1Insurance ExpenseDividendsCommon StockAccounts PayableDepreciation ExpenseEquipmentService RevenueRetained earnings, July 31Cleaning SuppliesPrepaid InsuranceSalaries ExpenseGas & Oil ExpenseCleaning Supplies ExpenseAccumulated DepreciationSalaries Payable

 

Less: Depreciation ExpenseGas & Oil ExpenseAccounts PayableCleaning SuppliesService RevenueRetained earnings, July 1Net incomeSalaries ExpenseInsurance ExpenseCommon StockPrepaid InsuranceRetained earnings, July 31Accumulated DepreciationDividendsCashEquipmentAccounts ReceivableSalaries PayableCleaning Supplies Expense

 

Accumulated DepreciationDepreciation ExpenseSalaries PayableDividendsInsurance ExpensePrepaid InsuranceCommon StockCashRetained earnings, July 31Accounts PayableRetained earnings, July 1Cleaning SuppliesEquipmentNet incomeService RevenueAccounts ReceivableSalaries ExpenseGas & Oil ExpenseCleaning Supplies Expense

$

 

CARDINAL WINDOW WASHING INC.
Balance Sheet

For the Month Ended July 31, 2010July 31, 2010

Assets
Current assets
DividendsCommon StockService RevenueDepreciation ExpenseEquipmentCleaning Supplies ExpenseInsurance ExpenseRetained EarningsPrepaid InsuranceAccounts ReceivableAccounts PayableCashSalaries PayableCleaning SuppliesSalaries ExpenseAccumulated DepreciationGas & Oil Expense$
Accounts ReceivableEquipmentRetained EarningsCleaning SuppliesSalaries ExpenseGas & Oil ExpenseAccounts PayableCashCommon StockPrepaid InsuranceService RevenueCleaning Supplies ExpenseAccumulated DepreciationSalaries PayableInsurance ExpenseDividendsDepreciation Expense
Salaries ExpenseCleaning Supplies ExpenseGas & Oil ExpenseCleaning suppliesDividendsAccounts ReceivableRetained EarningsAccumulated DepreciationAccounts PayablePrepaid InsuranceDepreciation ExpenseCashSalaries PayableCommon StockService RevenueInsurance ExpenseEquipment
Accounts ReceivableAccounts PayableCleaning Supplies ExpenseAccumulated DepreciationCleaning SuppliesGas & Oil ExpenseCommon StockRetained EarningsSalaries PayableCashPrepaid InsuranceDividendsDepreciation ExpenseEquipmentInsurance ExpenseService RevenueSalaries Expense

 

Total current assets$
Property, plant, and equipment
CashGas & Oil ExpenseSalaries PayableCommon StockDividendsRetained EarningsEquipmentDepreciation ExpenseAccounts PayableInsurance ExpenseCleaning SuppliesPrepaid InsuranceAccounts ReceivableAccumulated DepreciationSalaries ExpenseService RevenueCleaning Supplies Expense
Less: Accumulated DepreciationSalaries ExpenseCleaning SuppliesRetained EarningsDividendsCashAccounts PayableCommon StockEquipmentPrepaid InsuranceAccounts ReceivableDepreciation ExpenseSalaries PayableInsurance ExpenseCleaning Supplies ExpenseService RevenueGas & Oil Expense

 

 

Total assets

$

Liabilities and Stockholders' Equity
Current liabilities
Cleaning SuppliesCashDepreciation ExpenseCommon StockService RevenueSalaries ExpenseEquipmentAccumulated DepreciationSalaries PayablePrepaid InsuranceDividendsInsurance ExpenseAccounts ReceivableRetained EarningsAccounts PayableGas & Oil ExpenseCleaning Supplies Expense$
EquipmentCleaning Supplies ExpenseDividendsPrepaid InsuranceCommon StockInsurance ExpenseDepreciation ExpenseAccumulated DepreciationRetained EarningsCleaning SuppliesAccounts ReceivableSalaries PayableAccounts PayableCashService RevenueGas & Oil ExpenseSalaries Expense

 

Total current liabilities$
Stockholders' equity
Depreciation ExpenseEquipmentDividendsGas & Oil ExpensePrepaid InsuranceCleaning Supplies ExpenseAccounts ReceivableAccumulated DepreciationSalaries PayableInsurance ExpenseCashCleaning SuppliesRetained EarningsService RevenueCommon stockSalaries ExpenseAccounts Payable
Accounts PayableCleaning Supplies ExpenseInsurance ExpensePrepaid InsuranceAccumulated DepreciationDividendsAccounts ReceivableCashSalaries PayableService RevenueCommon StockCleaning SuppliesDepreciation ExpenseRetained earningsGas & Oil ExpenseEquipmentSalaries Expense

 

Total stockholders' equity

 

Total liabilities and stockholders' equity

$


 

Journalize the post closing entries. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

 

DateAccount/DescriptionDebitCredit
July 31DividendsAccumulated DepreciationService RevenueAccounts ReceivableCashCommon StockEquipmentPrepaid InsuranceSalaries ExpenseDepreciation ExpenseGas & Oil ExpenseRetained EarningsCleaning Supplies ExpenseIncome SummaryInsurance ExpenseAccounts PayableSalaries PayableCleaning Supplies
Depreciation ExpenseService RevenueIncome SummaryAccounts PayableCleaning Supplies ExpenseAccumulated DepreciationSalaries PayableAccounts ReceivableInsurance ExpenseSalaries ExpenseDividendsPrepaid InsuranceRetained EarningsEquipmentCleaning SuppliesCashGas & Oil ExpenseCommon Stock
(To close revenue accounts.)
July 31EquipmentPrepaid InsuranceCashSalaries ExpenseCleaning Supplies ExpenseAccumulated DepreciationGas & Oil ExpenseCommon StockService RevenueSalaries PayableDividendsCleaning SuppliesDepreciation ExpenseAccounts ReceivableInsurance ExpenseRetained EarningsIncome SummaryAccounts Payable
Common StockIncome SummaryInsurance ExpenseDepreciation ExpenseEquipmentService RevenueSalaries PayableRetained EarningsAccumulated DepreciationDividendsSalaries ExpenseCashCleaning Supplies ExpenseGas & Oil ExpensePrepaid InsuranceAccounts PayableCleaning SuppliesAccounts Receivable
Cleaning Supplies ExpenseRetained EarningsPrepaid InsuranceGas & Oil ExpenseCommon StockIncome SummaryService RevenueAccumulated DepreciationCashAccounts PayableAccounts ReceivableEquipmentSalaries ExpenseSalaries PayableDividendsDepreciation ExpenseInsurance ExpenseCleaning Supplies
Gas & Oil ExpenseCommon StockAccounts PayableCleaning SuppliesInsurance ExpenseRetained EarningsCashSalaries PayableEquipmentDepreciation ExpenseDividendsPrepaid InsuranceIncome SummaryAccounts ReceivableService RevenueSalaries ExpenseCleaning Supplies ExpenseAccumulated Depreciation
Depreciation ExpenseSalaries PayableEquipmentInsurance ExpenseCashCommon StockAccounts ReceivablePrepaid InsuranceAccumulated DepreciationCleaning SuppliesService RevenueSalaries ExpenseGas & Oil ExpenseAccounts PayableCleaning Supplies ExpenseDividendsRetained EarningsIncome Summary
Salaries ExpenseGas & Oil ExpenseSalaries PayableRetained EarningsAccumulated DepreciationEquipmentAccounts ReceivableCommon StockCleaning Supplies ExpenseDividendsInsurance ExpensePrepaid InsuranceDepreciation ExpenseIncome SummaryCashAccounts PayableCleaning SuppliesService Revenue
(To close expense accounts.)
July 31Insurance ExpenseSalaries ExpenseIncome SummaryCashGas & Oil ExpenseDepreciation ExpenseAccumulated DepreciationDividendsRetained EarningsAccounts PayablePrepaid InsuranceCleaning Supplies ExpenseEquipmentSalaries PayableCleaning SuppliesCommon StockAccounts ReceivableService Revenue
Cleaning Supplies ExpenseGas & Oil ExpenseAccumulated DepreciationPrepaid InsuranceSalaries PayableDividendsDepreciation ExpenseInsurance ExpenseRetained EarningsService RevenueSalaries ExpenseIncome SummaryAccounts PayableCleaning SuppliesCashCommon StockEquipmentAccounts Receivable
(To close income summary. )
July 31Accounts PayableCleaning Supplies ExpenseCashEquipmentRetained EarningsCleaning SuppliesCommon StockIncome SummaryAccounts ReceivablePrepaid InsuranceAccumulated DepreciationInsurance ExpenseService RevenueSalaries ExpenseSalaries PayableGas & Oil ExpenseDividendsDepreciation Expense
Insurance ExpenseSalaries PayableCommon StockService RevenueRetained EarningsIncome SummaryAccounts ReceivableDividendsGas & Oil ExpenseDepreciation ExpenseAccounts PayableCleaning SuppliesSalaries ExpenseCleaning Supplies ExpenseAccumulated DepreciationCashEquipmentPrepaid Insurance
(To close dividends.)

 

Complete the post closing Trial Balance below. (If answer is zero please enter 0, do not leave any fields blank.)

 

CARDINAL WINDOW WASHING INC.
Post-Closing Trial Balance

July 31, 2010

DebitCredit
Cash$$
Accounts Receivable
Cleaning Supplies
Prepaid Insurance
Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Common Stock
Retained Earnings

 

Dividends
Service Revenue
Salaries Expense
Gas & Oil Expense
Depreciation Expense
Insurance Expense
Cleaning Supplies Expense

 

 

$

$


 

Click here if you would like to Show Work for this question

Expert:  linda_us replied 2 years ago.
Thank you but the there is too much work for the offered price.
I can help you but will you be willing to revise the offer
or
you can create separate posts for all the parts and just write "FOR LINDA Part 1".."FOR LINDA Part 2" etc..and I will post the solution there.

Regards

Linda
Customer: replied 2 years ago.
Good evening Linda, Were you able to retrieve the info.
Expert:  linda_us replied 2 years ago.
Hi Hennesy

Did you get my previous reply?

"Thank you but the there is too much work for the offered price.
I can help you but will you be willing to revise the offer
or
you can create separate posts for all the parts and just write "FOR LINDA Part 1".."FOR LINDA Part 2" etc..and I will post the solution there."

Regards

Linda
Customer: replied 2 years ago.
How much more do you want for this?
Customer: replied 2 years ago.

I have paid a bonus. Thank you.

Expert:  linda_us replied 2 years ago.
I will post the solution today.

Regards

Linda

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I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
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  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • linda_us

    Master's Degree

    Satisfied Customers:

    779
    Business Analyst and Solution Consultant with over 9 years of experience.
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  • http://ww2.justanswer.com/uploads/LI/lindaus/2012-6-10_04811_IMG20120609164157.64x64.jpg linda_us's Avatar

    linda_us

    Master's Degree

    Satisfied Customers:

    779
    Business Analyst and Solution Consultant with over 9 years of experience.
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Bachelor's Degree

    Satisfied Customers:

    363
    Finished my BA degree with a GPA of 4.0.
  • http://ww2.justanswer.com/uploads/ED/educatortech/2012-6-7_1256_williams4.64x64.jpg Mr. Gregory White's Avatar

    Mr. Gregory White

    Master's Degree

    Satisfied Customers:

    265
    M.A., M.S. Education / Educational Administration
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg Bizhelp's Avatar

    Bizhelp

    CPA

    Satisfied Customers:

    253
    BA degree and Certified Public Accountant
  • http://ww2.justanswer.com/uploads/JawaadAhmed/2009-6-27_12137_SIs_SHadi.jpg F. Naz's Avatar

    F. Naz

    B.Com

    Satisfied Customers:

    185
    Have completed B.Com and CA Finalist
  • http://ww2.justanswer.com/uploads/YO/youngda2/2011-12-23_135741_2011012417.37.18.64x64.jpg Dave CPA's Avatar

    Dave CPA

    Accountant

    Satisfied Customers:

    98
    Sound knowledge base in accounting and finance.
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg MyVirtualCPA's Avatar

    MyVirtualCPA

    Master's Degree

    Satisfied Customers:

    95
    Master's Degree in Accounting with excellent math and reasoning skills
 
 
 

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linda_us
linda_us
780 Satisfied Customers
Business Analyst and Solution Consultant with over 9 years of experience.