Journal Entries, Adjusting Entries, and Trial and Adjusted Trial Balance
Can anyone help me with this? I'm confused on how to post these and how to prepare the Adjusted Trial Balance.
Window Washing Company opened on July 1, 2010. During July the following transactions were completed.
July 1 Issued 14,456 shares of common stock for $14,456 cash.
July 1 Purchased used truck for $12,456, paying $2,106 cash and the balance on account.
July 3 Purchased cleaning supplies for $907 on account.
July 5 Paid $1,886 cash on 1-year insurance policy effective July 1.
July 12 Billed customers $3,286 for cleaning services.
July 18 Paid $1,073 cash on amount owed on truck and $522 on amount owed on cleaning supplies.
July 20 Paid $2,074 cash for employee salaries.
July 21 Collected $1,600 cash from customers billed on July 12.
July 25 Billed customers $2,650 for cleaning services.
July 31 Paid $382 for gas and oil used in the truck during month.
July 31 Declared and paid a $636 cash dividend.
And these are the Adjusting Entries:
1. Services provided but unbilled and uncollected at July 31 were $1,779.
2. Depreciation on equipment for the month was $270.
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 $428.
Help would be greatly appreciated.