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Account Titles Trial Balance Adjustments Trial Balance Stätement Balance Sheet Dr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner's Drawings Service Revenue Gasoline Expense Salaries and Wages Expense Totals Depreciation Expense Accum. Depr.-Equipment Insurance Expense Supplies Expense Salaries and Wages Payable Totals Net Income Totals

Account Titles Trial Balance Adjustments Trial Balance Stätement Balance Sheet Dr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner's Drawings Service Revenue Gasoline Expense Salaries and Wages Expense Totals Depreciation Expense Accum. Depr.-Equipment Insurance Expense Supplies Expense Salaries and Wages Payable Totals Net Income Totals

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(b) & (c) ALI HASAN CLEANING SERVICE Worksheet For the Month Ended July 31, 2020 Adjusted Income Account Titles Trial Balance Adjustments Trial Balance Statement Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner's Drawings Service Revenue Gasoline Expense Salaries and Wages Expense Totals Depreciation Expense Accum. Depr.-Equipment Insurance Expense Supplies Expense Salaries and Wages Payable Totals Net Income Totals Key: (a) Service Revenue Accrued; (b) Depreciation Expense; (c) Insurance Expired; (d) Cleaning Supplies Used; (e) Unpaid Salaries. b. Prepare a trial balance at July 31 st on a worksheet (trial balance, adjusted trial balance, income statement, and balance sheet) Enter the following adjustments on the worksheet and complete the worksheet 1. Unbilled and collected revenue for services performed at July 31 were BD 2,700 2. Depreciation on equipment for the month was BD 500 3. One-twelfth of the insurance expired 4. Aninventory count shows BD 600 of cleaning supplies on hand at July 31 5. Accrued but unpaid employee salaries were BD 1,000 C. Please use the following table in answering question (b) and (c)
Transcribed Image Text:(b) & (c) ALI HASAN CLEANING SERVICE Worksheet For the Month Ended July 31, 2020 Adjusted Income Account Titles Trial Balance Adjustments Trial Balance Statement Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner's Drawings Service Revenue Gasoline Expense Salaries and Wages Expense Totals Depreciation Expense Accum. Depr.-Equipment Insurance Expense Supplies Expense Salaries and Wages Payable Totals Net Income Totals Key: (a) Service Revenue Accrued; (b) Depreciation Expense; (c) Insurance Expired; (d) Cleaning Supplies Used; (e) Unpaid Salaries. b. Prepare a trial balance at July 31 st on a worksheet (trial balance, adjusted trial balance, income statement, and balance sheet) Enter the following adjustments on the worksheet and complete the worksheet 1. Unbilled and collected revenue for services performed at July 31 were BD 2,700 2. Depreciation on equipment for the month was BD 500 3. One-twelfth of the insurance expired 4. Aninventory count shows BD 600 of cleaning supplies on hand at July 31 5. Accrued but unpaid employee salaries were BD 1,000 C. Please use the following table in answering question (b) and (c)
Question Ali Hasan opened Ali's Cleaning Service on July 1 st, 2020. During July, the following transactions were completed. July 1 Ali invested BD 20,000 cash in the business 1 Purchased used truck for BD 12,000, paying BD 4,000 cash and the balance on account. 3 Purchased cleaning supplies on account for BD 2,100 Paid BD 1,800 cash on a 1-year insurance policy effective July 1 st. 12 Billed customers BD 4,500 for cleaning services 18 Paid BD 1,500 cash on amount owed on truck and BD 1,400 on amount owed on cleaning supplies 20 Paid BD 2,800 cash for employee salaries 21 Collected BD 3,400 cash from customers billed on July 12 th 25 Billed customers BD 6,000 for cleaning services 31 Paid BD 350 for the monthly gasoline bill for the truck Withdrew BD 5,600 cash for personal use. 31 Ali Hasan Co. uses the following chart of accounts: No. 101 Cash, No. 112 Account Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, Np. 157 Equipment, No. 158 Accumulated depreciation – equipment, No. 201 Account Payable, No. 212 Salaries and wages payable, No. 301 Owner's Capital, No. 306 Owner's Drawings, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies expense, No. 633 Gasoline expense, No 711 Depreciation expense, No. 722 Insurance Expense, and No 726 Salaries and Wages expense.
Transcribed Image Text:Question Ali Hasan opened Ali's Cleaning Service on July 1 st, 2020. During July, the following transactions were completed. July 1 Ali invested BD 20,000 cash in the business 1 Purchased used truck for BD 12,000, paying BD 4,000 cash and the balance on account. 3 Purchased cleaning supplies on account for BD 2,100 Paid BD 1,800 cash on a 1-year insurance policy effective July 1 st. 12 Billed customers BD 4,500 for cleaning services 18 Paid BD 1,500 cash on amount owed on truck and BD 1,400 on amount owed on cleaning supplies 20 Paid BD 2,800 cash for employee salaries 21 Collected BD 3,400 cash from customers billed on July 12 th 25 Billed customers BD 6,000 for cleaning services 31 Paid BD 350 for the monthly gasoline bill for the truck Withdrew BD 5,600 cash for personal use. 31 Ali Hasan Co. uses the following chart of accounts: No. 101 Cash, No. 112 Account Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, Np. 157 Equipment, No. 158 Accumulated depreciation – equipment, No. 201 Account Payable, No. 212 Salaries and wages payable, No. 301 Owner's Capital, No. 306 Owner's Drawings, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies expense, No. 633 Gasoline expense, No 711 Depreciation expense, No. 722 Insurance Expense, and No 726 Salaries and Wages expense.
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