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On May 5, 2013, GinaEnnabeortiz started a carpet cleaning business called Ennabeortiz Family Carpet Cleaning. She completed the following transactions during the month:
1. Prepare general journal entries to record these transactions (use the account titles listed in part 2).
2. Open a set of T accounts with the following titles: Cash (101), Accounts Receivable (106); Office Supplies (124); Truck Supplies(128); Equipment (131); Prepaid Rent (140); Prepaid Insurance (150); Truck (163); Accounts Payable (201); Notes Payable (202); Unearned Cleaning Revenue (203); GinaEnnabeortiz, Capital (301); GinaEnnabeortiz, Drawing (302); Cleaning Revenue (403); Salaries Expense (620); Truck Expense (630); Utilities Expense (640) and Advertising Expense (650). Post journal entries from Part 1 to the T accounts and calculate the account balance for each account.
3. Prepare a trial balance as of the end of this month’s operations.
4. Using the trial balance created above, prepare an income statement, statement of owner’s equity and a balance sheet for the month ended May 31st.