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    Dana La Fontsee Opened Pro Window Washing Inc On July PDF

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    Anbu jaromia
    Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. During July, the company issued stock, purchased a truck and supplies on account, paid insurance and employee salaries, billed and collected from customers, paid expenses, and declared a dividend. Adjusting entries were needed to account for unbilled services, depreciation, expired insurance, supplies inventory, and accrued salaries at the end of July. Financial statements were prepared, including an income statement, balance sheet, and retained earnings statement.

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    Dana La Fontsee Opened Pro Window Washing Inc On July PDF

    Uploaded by

    Anbu jaromia
    44 views1 page
    Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. During July, the company issued stock, purchased a truck and supplies on account, paid insurance and employee salaries, billed and collected from customers, paid expenses, and declared a dividend. Adjusting entries were needed to account for unbilled services, depreciation, expired insurance, supplies inventory, and accrued salaries at the end of July. Financial statements were prepared, including an income statement, balance sheet, and retained earnings statement.

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    Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. During July, the company issued stock, purchased a truck and supplies on account, paid insurance and employee salaries, billed and collected from customers, paid expenses, and declared a dividend. Adjusting entries were needed to account for unbilled services, depreciation, expired insurance, supplies inventory, and accrued salaries at the end of July. Financial statements were prepared, including an income statement, balance sheet, and retained earnings statement.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    44 views1 page

    Dana La Fontsee Opened Pro Window Washing Inc On July PDF

    Uploaded by

    Anbu jaromia
    Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. During July, the company issued stock, purchased a truck and supplies on account, paid insurance and employee salaries, billed and collected from customers, paid expenses, and declared a dividend. Adjusting entries were needed to account for unbilled services, depreciation, expired insurance, supplies inventory, and accrued salaries at the end of July. Financial statements were prepared, including an income statement, balance sheet, and retained earnings statement.

    Copyright:

    © All Rights Reserved
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    Dana La Fontsee opened Pro Window Washing Inc on July

    Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. During July the following
    transactions were completed.July 1 Issued 12,000 shares of common stock for $12,000 cash.1
    Purchased used truck for $8,000, paying $2,000 cash and the balance on account.3 Purchased
    cleaning supplies for $900 on account.5 Paid $1,800 cash on 1-year insurance policy effective
    July 1.12 Billed customers $3,700 for cleaning services.18 Paid $1,000 cash on amount owed
    on truck and $500 on amount owed oncleaning supplies.20 Paid $2,000 cash for employee
    salaries.21 Collected $1,600 cash from customers billed on July 12.25 Billed customers $2,500
    for cleaning services.31 Paid $290 for maintenance of the truck during month.31 Declared and
    paid $600 cash dividend.The chart of accounts for Pro 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, Salaries and Wages
    Expense.Instructions(a) Journalize the July transactions.(b) Post to the ledger accounts. (Use T
    accounts.)(c) Prepare a trial balance at July 31.(d) Journalize the following adjustments.(1)
    Services provided but unbilled and uncollected at July 31 were $1,700.(2) Depreciation on
    equipment for the month was $180.(3) One-twelfth of the insurance expired.(4) An inventory
    count shows $320 of cleaning supplies on hand at July 31.(5) Accrued but unpaid employee
    salaries were $400.(e) Post adjusting entries to the T accounts.(f ) Prepare an adjusted trial
    balance.(g) Prepare the income statement and a retained earnings statement for July and a
    classified balance sheet at July 31.(h) Journalize and post closing entries and complete the
    closing process.(i) Prepare a post-closing trial balance at July 31.View Solution:
    Dana La Fontsee opened Pro Window Washing Inc on July
    SOLUTION-- http://accountinginn.online/downloads/dana-la-fontsee-opened-pro-window-
    washing-inc-on-july/

    For Solutions Visit accountinginn.online


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