Mike Greenberg opened Kleene Window Washing Inc. on July 1, 2017.

During July, the following transactions were comple

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 a 1-year insurance policy effective July 1.
12 Billed customers $3,700 for cleaning services performed.
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.
21 Collected $1,600 cash from customers billed on July 12.
25 Billed customers $2,500 for cleaning services performed.
31 Paid $290 for maintenance of the truck during month.
 31 Declared and paid $600 cash dividend.
The chart of accounts for Kleene Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, P
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 performed 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) A 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.

Answer D-Adjustment Entries

S.No Particulars Debit Credit
1 Accounts Receivable $ 1,700
Service Revenue $ 1,700

2 Depreciation Expense $ 180

Accumulated Depreciation— Equipment $ 180

3 Insurance Expense $ 150

Prepaid Insurance $ 150
(1/12 * $ 1,800)

4 Supplies expense $ 580

Supplies $ 580
($ 900 less $ 320)
5 Salaries and Wages Expense $ 400
Salaries and Wages Payable $ 400
wing transactions were completed. July 1 Issued 12,000 shares of common stock for $12,000 cash.
Answer A-Journal Entries
Date Particulars Debit Credit
1-Jul Cash $ 12,000
Common Stock $ 12,000

1-Jul Equipment $ 8,000

Cash $ 2,000
Accounts Payable $ 6,000

3-Jul Supplies $ 900

Accounts Receivable, Supplies, Prepaid Insurance, Accounts Payable $ 900

5-Jul Prepaid Insurance $ 1,800

Cash $ 1,800

12-Jul Accounts Receivable $ 3,700

Service Revenue $ 3,700

18-Jul Accounts Payable $ 1,500

Cash $ 1,500

20-Jul Salaries and Wages Expense $ 2,000

Cash $ 2,000
ed balance sheet at July 31.
-closing trial balance at July 31. 21-Jul Cash $ 1,600
Accounts Receivable $ 1,600

25-Jul Accounts Receivable $ 2,500

Service Revenue $ 2,500

31-Jul Maintenance and Repairs Expen $ 290

Cash $ 290

31-Jul Dividends $ 600

Cash $ 600
Answer B-T-Accounts
Cash
1-Jul $ 12,000 1-Jul
21-Jul $ 1,600 5-Jul
18-Jul
20-Jul
31-Jul
31-Jul
Balance

$ 13,600
Common Stock
Balance $ 12,000 1-Jul

Equipment
1-Jul $ 8,000 Balance

Accounts Payable
18-Jul $ 1,500 1-Jul
Balance $ 5,400 3-Jul
$ 6,900

Supplies
3-Jul $ 900 Supplies expense
Balance
$ 900

Prepaid Insurance
5-Jul $ 1,800 Insurance Expense
Balance
$ 1,800

Accounts Receivable
12-Jul $ 3,700 21-Jul
25-Jul $ 2,500 Balance
Service Revenue $ 1,700
$ 7,900

Service Revenue
Balance $ 7,900 12-Jul
 25-Jul
Accounts Receivable
$ 7,900

Salaries and Wages Expense

20-Jul $ 2,000 Balance
Salaries and Wages Payable $ 400
$ 2,400

Maintenance and Repairs Expense

31-Jul $ 290 Balance

Dividends
31-Jul $ 600 Balance

Depreciation Expense
Accumulated Depreciation— Equipment $ 180 Income Summary

Accumulated Depreciation— Equipment

Balance $ 180 Depreciation Expense

Insurance Expense
Prepaid Insurance $ 150 Income Summary

Supplies expense
Supplies $ 580 Income Summary

Salaries and Wages Payable

Balance $ 400 Salaries and Wages Expense
$ 2,000
$ 1,800 Answer C-Trial Balance
$ 1,500 Particulars Debit Credit
$ 2,000 Cash $ 5,410
$ 290 Common Stock $ 12,000
$ 600 Equipment $ 8,000
$ 5,410 Accounts Payable $ 5,400
Supplies $ 900
$ 13,600 Prepaid Insurance $ 1,800
Accounts Receivable $ 4,600
$ 12,000 Service Revenue $ 6,200
Salaries and Wages Expense $ 2,000
Maintenance and Repairs Expense $ 290
$ 8,000 Dividends $ 600
$ 23,600 $ 23,600 0

$ 6,000
$ 900
$ 6,900 Answer F-Adjusted Trial Balance
Particulars Debit Credit
Cash $ 5,410
Common Stock $ 12,000
Equipment $ 8,000
$ 580 Accounts Payable $ 5,400
$ 320 Supplies $ 320
$ 900 Prepaid Insurance $ 1,650
Accounts Receivable $ 6,300
Service Revenue $ 7,900
$ 150 Salaries and Wages Expense $ 2,400
$ 1,650 Maintenance and Repairs Expense $ 290
$ 1,800 Dividends $ 600
Depreciation Expense $ 180
Accumulated Depreciation— Equipment $ 180
$ 1,600 Insurance Expense $ 150
$ 6,300 Supplies expense $ 580
Salaries and Wages Payable $ 400
$ 7,900 $ 25,880 $ 25,880

$ 3,700
$ 2,500
$ 1,700
$ 7,900

$ 2,400

$ 2,400

$ 290

$ 600

$ 180

$ 180

$ 150

$ 580

$ 400