Show Attempt History Current Attempt in Progress Ivanhoe Clark opened Ivanhoe's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Ivanhoe invested $20,000 cash in the business. 1 Purchased used truck for $8,900, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $2,300 on account. 5 Paid $1,920 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,500 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. 20 Paid $2,500 cash for employee salaries. 21 Collected $3,300 cash from customers billed on July 12. 25 Billed customers $5,900 for cleaning services. 31 Paid $360 for the monthly gasoline bill for the truck. 31 Withdraw $5,600 cash for personal use. W dniu 17 Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled and uncollected revenue for services performed at July 31 were $2,600. (2) Depreciation on equipment for the month was $400. (3) One-twelfth of the insurance expired. (4) An inventory count shows $500 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were $1,010. (5) IVANHOE'S CLEANING SERVICE Worksheet Adjustments Adjusted Trial Balance Dr. Cr. Dr. Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled and uncollected revenue for services performed at July 31 were $2,600. (2) Depreciation on equipment for the month was $400. (3) One-twelfth of the insurance expired. (4) An inventory count shows $500 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $1,010. Income Statement Balance Sheet Dr. Cr. Dr. Cr. Tour answer is partially correct. Prepare the owner's equity statement for July (List items that increase owner's equity first.) IVANHOE'S CLEANING SERVICE Owner's Equity Statement For the Year Ended July 31, 2022 Owner's Capital, July 1 20000 Add Net Income /(Loss) 10400 Revenues 2860 7540 27540 Less Expenses 5600 i Net Income /(Loss) 21940 e Textbook and Media List of Accounts Save for Later Attempts: 1 of 5 used Submit Answer (3) Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) IVANHOE'S CLEANING SERVICE Balance Sheet Assets $ v $ Liabilities and Owner's Equity > $