Journalize the transactions for the month of January in the general journal.

 Make (post) the entries in the ledger. USE T ACCOUNTS

Prepare the trial balance without adjustments as of January 31, 2020.

Make the following adjustments:

a. The depreciation of the equipment for one month is $ 205.

b. One month of prepaid insurance expired.

c. The cleaning supplies inventory balance at the end of the month is $ 200.

d. Salary accrued but not paid to an employee (unpaid employee salary) is $ 600.

Prepare the following reports in their corresponding spreadsheet:

a. Income statement

b. Statement of owner equity

c. Balance sheet

 
January 1 Invested $ 10,000 in cash to start the business.
January 3 Purchased a business vehicle for $ 12,000 of which $ 3,000 was in cash and the remainder in credit
January 3 Purchased cleaning supplies totaling $ 1,500.
January 4 Paid a $ 2,000 prepayment insurance policy effective January 1.
January 5 Performed a service to a customer (fee earned) in the amount of $ 2,100.
January 10 Paid a credit to the vehicle purchased for $ 500
January 15 Paid salary to employees for $ 1,800.
January 16 Performed a cleaning job on a building on credit for $ 3,000.
January 18 He did cleaning work in an office and collected it in cash for $ 2,500.
January 20 The customer who had the job performed on January 16 paid $ 1,200.
January 21 Paid $ 80 for gas for business vehicle.
January 22 Performed office cleaning work for $ 1,000 cash.
January 25 Paid $ 20 for gas for business vehicle.
January 28 Paid $ 500 for advertising expense.
January 29 Made a withdrawal for personal use in the amount of $ 500.
January 30 Paid employee salary of $ 1,800.

 
Use the following accounts:

111 Cash
112 Accounts receivable (accounts receivable)
128 Cleaning supplies
130 Prepaid insurance
157 Equipment
158 Accumulated depreciation equipment
201 Accounts payable
212 Salaries payable
301 Carmen Ramos, capital
305 Carmen Ramos, retreat (drawing)
350 Income summary
400 Fee earned
632 Gas & oil expense
633 Cleaning supplies expense
710 Depreciation expense
712 Insurance expense
720 Salaries expense

Answer rating: 100% (QA)

General Journal Date Account Debit Credit Jan 1 Cash 10000 Carmen Ramos Capital 10000 Jan 3 Business Vehicle 12000 Cash 3000 Accounts Payable 9000 Jan 3 Cleaning Supplies 1500 Cash 1500 Jan 4 Prepaid ... View the full answer