Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do...
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Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. Services performed but unbilled and uncollected at July 31 were $1,360. 2. Depreciation on equipment for the month was $140. 3. One-twelfth of the insurance expired. 4. A count shows $260 of cleaning supplies on hand at July 31. 5. Accrued but unpaid employee salaries were $320. Sr. Date Account Titles and Explanation Debit Credit 1. July 31 2. July 31 3. July 31 4. July 31 5. July 31 LINK TO TEXT LINK TO TEXT LINK TO TEXT Post adjusting entries to the T-accounts. Cash 7/1 9,600 7/1 1,600 7/21 1,280 7/5 1,440 7/18 1,200 7/20 1,600 7/31 230 7/31 480 7/31 Bal. 4,330 Accounts Receivable 7/12 2,960 7/21 1,280 Activate Windows Go to Settings to activate Windews. 7/25 2,000 mp4 Show all 7:34 PM e to search 4/10/2021 Post adjusting entries to the T-accounts. Cash 9,600 7/1 1,280 7/5 7/18 7/20 7/31 7/31 7/1 1,600 7/21 1,440 1,200 1,600 230 480 7/31 Bal. 4,330 Accounts Receivable 7/12 2,960 7/21 1,280 7/25 2,000 Supplies 7/3 720 Prepaid Insurance 7/5 1,440 Equipment 7/1 6,400 7/31 Bal. 6,400 Accumulated Depreciation-Equipment Accounts Payable 7/18 1,200 7/1 7/3 4,800 720 7/31 Bal. Salaries and Wages Payable 4,320 Owner's Capital Activate Windows 7/1 9,600 Go to Settings to activate Windews. np4 Show all 7:35 PM to search W 4/10/2021 Owner's Capital 7/1 9,600 7/31 Bal. 9,600 Owner's Drawings 7/31 480 Bal. 480 Service Revenue 7/12 2,960 7/25 2,000 Maintenance and Repairs Expense 7/31 230 Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense 7/20 1,600 LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare an adjusted trial balance. Activate Windows BRIDGEPORT WINDOW WASHING CO. Go to Settings to activate Windews. p4 Show all 7:35 PM co search W O a 4) 4/10/2021 近 BRIDGEPORT WINDOW WASHING CO. Trial Balance Debit Credit Totals LINK TO TEXT LINK TO TЕXT LINK TO TEXT Prepare the income statement for July. BRIDGEPORT WINDOW WASHING CO. Income Statement Activate Windows Go to Settings to activate Windows- mp4 Show all 7:35 PM to search A O G 4) 昆 4/10/2021 Prepare an owner's equity statement for July. (List items that increase owner's equity first.) BRIDGEPORT WINDOW WASHING CO. Owner's Equity Statement LINK TO TEXT LINK TO TEXT LINK TO TЕXT Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) BRIDGEPORT WINDOW WASHING CO. Balance Sheet Assets Activate Windows Go to Settings te activate Windews. p4 Show all 7:35 PM co search 4/10/2021 CES LINK TO TEXT LINK TO TEXT LINK TO TEXT n) Prepare the income statement for July. BRIDGEPORT WINDOW WASHING CO. Income Statement Ap LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare an owner's equity statement for July. (List items that increase owner's equity first.) BRIDGEPORT WINDOW WASHING CO. BRIDGEPORT WINDOW WASHING CO. Balance Sheet Assets Liabilities and Owner's Equity LINK TO TEXT LINK TO TЕXT LINK TO TEXT Journalize the closing entries. (Credit account titles are automatically indented when the amount s entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 Activate Windows Go to Settings to activate Windews, -mp4 Show all 7:35 PM e to search ^O G 4) 4/10/2021 Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 (To close revenue account) July 31 (To dose expense accounts) July 31 (To dose net income to capital) July 31 (To close drawings to capital) Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. Services performed but unbilled and uncollected at July 31 were $1,360. 2. Depreciation on equipment for the month was $140. 3. One-twelfth of the insurance expired. 4. A count shows $260 of cleaning supplies on hand at July 31. 5. Accrued but unpaid employee salaries were $320. Sr. Date Account Titles and Explanation Debit Credit 1. July 31 2. July 31 3. July 31 4. July 31 5. July 31 LINK TO TEXT LINK TO TEXT LINK TO TEXT Post adjusting entries to the T-accounts. Cash 7/1 9,600 7/1 1,600 7/21 1,280 7/5 1,440 7/18 1,200 7/20 1,600 7/31 230 7/31 480 7/31 Bal. 4,330 Accounts Receivable 7/12 2,960 7/21 1,280 Activate Windows Go to Settings to activate Windews. 7/25 2,000 mp4 Show all 7:34 PM e to search 4/10/2021 Post adjusting entries to the T-accounts. Cash 9,600 7/1 1,280 7/5 7/18 7/20 7/31 7/31 7/1 1,600 7/21 1,440 1,200 1,600 230 480 7/31 Bal. 4,330 Accounts Receivable 7/12 2,960 7/21 1,280 7/25 2,000 Supplies 7/3 720 Prepaid Insurance 7/5 1,440 Equipment 7/1 6,400 7/31 Bal. 6,400 Accumulated Depreciation-Equipment Accounts Payable 7/18 1,200 7/1 7/3 4,800 720 7/31 Bal. Salaries and Wages Payable 4,320 Owner's Capital Activate Windows 7/1 9,600 Go to Settings to activate Windews. np4 Show all 7:35 PM to search W 4/10/2021 Owner's Capital 7/1 9,600 7/31 Bal. 9,600 Owner's Drawings 7/31 480 Bal. 480 Service Revenue 7/12 2,960 7/25 2,000 Maintenance and Repairs Expense 7/31 230 Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense 7/20 1,600 LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare an adjusted trial balance. Activate Windows BRIDGEPORT WINDOW WASHING CO. Go to Settings to activate Windews. p4 Show all 7:35 PM co search W O a 4) 4/10/2021 近 BRIDGEPORT WINDOW WASHING CO. Trial Balance Debit Credit Totals LINK TO TEXT LINK TO TЕXT LINK TO TEXT Prepare the income statement for July. BRIDGEPORT WINDOW WASHING CO. Income Statement Activate Windows Go to Settings to activate Windows- mp4 Show all 7:35 PM to search A O G 4) 昆 4/10/2021 Prepare an owner's equity statement for July. (List items that increase owner's equity first.) BRIDGEPORT WINDOW WASHING CO. Owner's Equity Statement LINK TO TEXT LINK TO TEXT LINK TO TЕXT Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) BRIDGEPORT WINDOW WASHING CO. Balance Sheet Assets Activate Windows Go to Settings te activate Windews. p4 Show all 7:35 PM co search 4/10/2021 CES LINK TO TEXT LINK TO TEXT LINK TO TEXT n) Prepare the income statement for July. BRIDGEPORT WINDOW WASHING CO. Income Statement Ap LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare an owner's equity statement for July. (List items that increase owner's equity first.) BRIDGEPORT WINDOW WASHING CO. BRIDGEPORT WINDOW WASHING CO. Balance Sheet Assets Liabilities and Owner's Equity LINK TO TEXT LINK TO TЕXT LINK TO TEXT Journalize the closing entries. (Credit account titles are automatically indented when the amount s entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 Activate Windows Go to Settings to activate Windews, -mp4 Show all 7:35 PM e to search ^O G 4) 4/10/2021 Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 (To close revenue account) July 31 (To dose expense accounts) July 31 (To dose net income to capital) July 31 (To close drawings to capital)
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Posted Date:
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