Mike Greenberg opened Pina Colada Window Washing Inc. on July 1, 2022. During July, the following...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Mike Greenberg opened Pina Colada Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. Issued 11,500 shares of common stock for $11,500 cash. Purchased used truck for $7.500, paying $2,000 cash and the balance on account. Purchased cleaning supplies for $800 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. Billed customers $3,900 for cleaning services performed. Paid $1,100 cash on amount owed on truck and $500 on amount owed on cleaning supplies. Paid $1,800 cash for employee salaries. Collected $1,600 cash from customers billed on July 12. Billed customers $2,300 for cleaning services performed. Paid $290 for maintenance of the truck during month. Declared and paid $500 cash dividend. July 1 1 3 5 12 18 20 21 25 31 31 The chart of accounts for Pina Colada Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. for the account titles and enter for the amounts Date Account Titles and Explanation MacBook Air Debit GALE Credit estion 1 of 1 MacBook Air -/50 Mike Greenberg opened Pina Colada Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. Issued 11,500 shares of common stock for $11,500 cash. Purchased used truck for $7.500, paying $2,000 cash and the balance on account. Purchased cleaning supplies for $800 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. Billed customers $3,900 for cleaning services performed. Paid $1,100 cash on amount owed on truck and $500 on amount owed on cleaning supplies. Paid $1,800 cash for employee salaries. Collected $1,600 cash from customers billed on July 12. Billed customers $2,300 for cleaning services performed. Paid $290 for maintenance of the truck during month. Declared and paid $500 cash dividend. July 1 1 3 5 12 18 20 21 25 31 31 The chart of accounts for Pina Colada Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. for the account titles and enter for the amounts Date Account Titles and Explanation MacBook Air Debit GALE Credit estion 1 of 1 MacBook Air -/50
Expert Answer:
Answer rating: 100% (QA)
Data July 1 3 ACCOUNT TIME and Explanation cash 12 19 20 R 20 251 311 31 common Fock truck cash Acco... View the full answer
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Posted Date:
Students also viewed these accounting questions
-
During May, the following transactions were completed and reported by Jerico Company: a. Materials purchased on account, $60,100. b. Materials issued to production to fill job-order requisitions:...
-
The following transactions were completed by The Bronze Gallery during the current fiscal year ended December 31: June 6. Reinstated the account of Ian Netti, which had been written off in the...
-
The following transactions were completed by Interia Management Company during the current fiscal year ended December 31: Feb. 24. Received 40% of the $18,000 balance owed by Broudy Co., a bankrupt...
-
Evaluate the limit or determine that it does not exist. |xx| lim (x,y)(0,0) [x] + [yl
-
An inspector examines items coming from an assembly line. A review of his record reveals that he accepts only 8% of all defective items. It was also found that 1% of all items from the assembly line...
-
Represent the ownerships and permissions shown in this UNIX directory listing as a protection matrix. (Note: asw is a member of two groups: users and devel; gmw is a member only of users.) Treat each...
-
What are the main factors considered when writing a report?
-
You have been assigned to the audit of Processing Solutions, Inc., a privately held corporation that develops and sells computer systems. The systems are sold under one- to five-year contracts that...
-
K Use the piecewise-defined function to find the following values for f(x). 2-4x if x2 2x if 2
-
The Batley Print Shop, which is not registered for VAT, rents a photocopying machine. It makes a quarterly payment as follows: (a) Three months rental in advance (b) A charge of 2 pence per copy made...
-
A simple collateralised debt obligation (CDO) is securitised from a pool of mortgage loans and corporate loans with face value 5 million and overall rate of return of 5.5%. The sizes of the senior...
-
1. Considering the environment aspect of the situation, do you believe things are changing more than they used to? Defend your stance. Next, define the term VUCA and based on the pace of change,...
-
In front of the ABC Clothing store on Saturday night. Policeman Frank has just received a call from a dispatcher that a burglary has just occurred at ABC Clothing Store. John Doe fits the description...
-
Did you see any similarities between what Steve Jobs noted as important in managing people and those principles noted by Covey as habits of successful people? What were they? Include examples of any...
-
Consider the following process, where 80 patients enter the process every day, and they go through a registration process in step 1. There is a buffer before entering step 2, and the average duration...
-
Explain Aztec Component Supplies' operations resources versus market requirements. What are two advantages and two disadvantages of the discussed offer in the case for both Aztec and Desron? What are...
-
For the following setup: What will be the time (in minutes) required to fill a 1 m container using the system if the level of the tank is constant? 4 m Ac = 2.3 m SG = 1 D 155 m 1x10- Pa.s 9.2x10-6...
-
An environmentalist wants to determine if the median amount of potassium (mg/L) in rainwater in Lincoln County, Nebraska, is different from that in the rainwater in Clarendon County, South Carolina....
-
Analytic Company is considering the acquisition of a computerized manufacturing system. The new system has a built-in quality function that increases the control over product specifications. An alarm...
-
Eastman, Inc., manufactures and sells three products: R, S, and T. In January, Eastman, Inc., budgeted sales of the following. At the end of the year, actual sales revenue for Product R and Product S...
-
Fisico Company produces exercise bikes. One of its plants produces two versions: a standard model and a deluxe model. The deluxe model has a wider and sturdier base and a variety of electronic...
-
An economist believes that the median income of lawyers who recently graduated from law school is more than \(\$ 64,000\). He queries a random sample of 12 lawyers and obtains the accompanying data....
-
One important variable to consider in trading stock is the daily volume. Volume is measured in number of shares traded in the stock. Stocks with lower volume tend to have more variability in the...
-
The median is different from 120. An analysis of the data reveals that there are 35 minus signs and 28 plus signs. Use the sign test to test the given alternative hypothesis at the \(\alpha=0.05\)...
Study smarter with the SolutionInn App