Instructions:

Journalize and post the January transactions

Prepare a Trial Balance

Journalize and post the adjusting entries

Prepare a post$-$adjusting Trial Balance

Prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet

Journalize and post the closing entries

Prepare Post$-$Closing Trial Balance

EGS Cleaning Service

Jan $1$ Owner Invested $$50,000$

$1$ Purchased a truck from Ford for $$11,000,$ paying $$2000$ down and the balance on account

$2$ Purchased cleaning supplies on account from Lowe's $$600$

$3$ Paid $$1500$ on one$-$year insurance policy effective January $1$

$3$ Purchased cleaning equipment on account from Home Depot $-$ $$6000$

$10$ Billed customer $$4000$ for cleaning services

$10$ Paid rent for first three months $($Jan$,$ Feb, March$)-$ $$1,800$

$15$ Paid $$600$ on truck $(1)$ and $$300$ on supplies

$18$ Paid $$500$ in salaries

$20$ Collected $$2000$ from billed customer $(10)$

$22$ Provide a cleaning service for $$2200-$ Customer paid half now and was billed for remainder

$25$ Paid Power bill $$200$

$28$ Owner withdrew $$300$ cash

Adjusting:

$31$ Earned but unbilled fees for services $$1,500$

$31$ Depreciation on the truck $$500$ for the year

$31$ Depreciation on the equipment $$1000$ for the year

$\frac{311}{12}$ of insurance expired

$\frac{311}{3}$ of rent expired

$31$ Inventory count shows $$100$ in supplies on hand

$31$ Salaries earned but not yet paid $$300$

Chart of Accounts