Uop Acc 290 Week 4 Individual Wileyplus Assignment
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UOP ACC 290 Week 4 Individual WileyPLUS Assignment
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ACC 290 Week 4 Individual WileyPLUS Assignment
Problem P4-8A
Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. During July the following transactions were completed.
July 1 Issued 11,000 shares of common stock for $11,000 cash.
July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance on account.
July 3 Purchased cleaning supplies for $900 on account.
July 5 Paid $1,800 cash on 1-year insurance policy effective July 1.
July 12 Billed customers $3,200 for cleaning services.
July 18 Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
July 20 Paid $2,000 cash for employee salaries.
July 21 Collected $1,400 cash from customers billed on July 12.
July 25 Billed customers $2,500 for cleaning services.
July 31 Paid $260 for gas and oil used in the truck during month.
July 31 Declared and paid a $600 cash dividend.
1.) Journalize the July transactions.
2.) 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 $250.
3. One-twelfth of the insurance expired.
4. An inventory count shows $360 of cleaning supplies on hand at July 31.
5. Accrued but unpaid employee salaries were $400.
3.) Post the July transactions to the ledger accounts. (Use T accounts.) Post adjusting entries to the T accounts. Post closing entries and complete the closing process.
4.) Complete the Trial Balance and Adjusted Trial Balance at July 31.
5.) Complete the income statement and a retained earnings statement for July and a classified balance sheet at July 31
6.) Journalize the post closing entries.
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To purchase this material click below link
http://www.assignmentcloud.com/ACC-290/ACC-290-Week-4-Individual-WileyPLUS-Assignment
ACC 290 Week 4 Individual WileyPLUS Assignment
Problem P4-8A
Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. During July the following transactions were completed.
July 1 Issued 11,000 shares of common stock for $11,000 cash.
July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance on account.
July 3 Purchased cleaning supplies for $900 on account.
July 5 Paid $1,800 cash on 1-year insurance policy effective July 1.
July 12 Billed customers $3,200 for cleaning services.
July 18 Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
July 20 Paid $2,000 cash for employee salaries.
July 21 Collected $1,400 cash from customers billed on July 12.
July 25 Billed customers $2,500 for cleaning services.
July 31 Paid $260 for gas and oil used in the truck during month.
July 31 Declared and paid a $600 cash dividend.
1.) Journalize the July transactions.
2.) 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 $250.
3. One-twelfth of the insurance expired.
4. An inventory count shows $360 of cleaning supplies on hand at July 31.
5. Accrued but unpaid employee salaries were $400.
3.) Post the July transactions to the ledger accounts. (Use T accounts.) Post adjusting entries to the T accounts. Post closing entries and complete the closing process.
4.) Complete the Trial Balance and Adjusted Trial Balance at July 31.
5.) Complete the income statement and a retained earnings statement for July and a classified balance sheet at July 31
6.) Journalize the post closing entries.
For more classes visit
www.assignmentcloud.com