Question: Mobile Detail Inc provides mobile detailing to its customers The

Mobile Detail, Inc. provides mobile detailing to its customers. The Income Statement for the month ended January 31, 2014, the Balance Sheet for December 31, 2013, and details of postings to the Cash account in the general ledger for the month of January 2014 follow:

The following additional information is also available:
1. $1,000 of the cash collected from customers in January 2014 was for gift certificates for detailing services to be performed in the future. As of January 31, 2014, $1,200 of gift certificates were still outstanding.
2. $3,500 of supplies were purchased on account.
3. Employees are paid monthly during the first week after the end of the pay period.

Based on these statements, prepare the Balance Sheet for January 31,2014.

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  • CreatedJuly 25, 2014
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