Question: For this question I need more than the a)Income Statement. Since it is a multiple-part question I need the b)Retained Earnings statement, c)Balance statement, d)Adjusting

For this question I need more than the a)Income Statement. Since it is a multiple-part question I need the b)Retained Earnings statement, c)Balance statement, d)Adjusting Entries, e)Closing Entries, f)Post Closing trial balance

For this question I need more than the a)Income Statement. Since itis a multiple-part question I need the b)Retained Earnings statement, c)Balance statement,

d)Adjusting Entries, e)Closing Entries, f)Post Closing trial balance Comprehensive Problem 4 a-g

(Part Level Submission) Kristin Malone opened Kristin's Maids Cleaning Service on July

Comprehensive Problem 4 a-g (Part Level Submission) Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2019. During July, the company completed the following transactions. July 1 1 3 5 12 18 20 21 25 31 31 Stockholders invested $17,000 cash in the business in exchange for common stock. Purchased a used truck for $10,000, paying $2,800 cash and the balance on account. Purchased cleaning supplies for $900 on account. Paid $1,608 on a 1-year insurance policy, effective July 1. Billed customers $3,700 for cleaning services. Paid $1,300 of amount owed on truck, and $200 of amount owed on cleaning supplies. Paid $1,600 for employee salaries. Collected $1,800 from customers billed on July 12. Billed customers $1,800 for cleaning services. Paid gasoline for the month on the truck, $300. Declared and paid a $800 cash dividend. The chart of accounts for Kristin's Maids Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. (b) (c) Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet, and complete the worksheet (1) Unbilled fees for services performed at July 31 were $1,400. (2) Depreciation on equipment for the month was $210. (3) One-twelfth of the insurance expired. (4) An inventory count shows $100 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $600. Prepare the income statement for July 31, 2019. (Enter negative amounts using either a nega KRISTIN'S MAIDS CLEANING SERVICE Income Statement Retained Earnings Statement

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!