P4-8B Geog Lav opened Geog Cleaners on March 1, 2014. During March, the following transactions were completed. Issued 10,000 shares of common stock for $15,000 cash. Purchased used truck for $8,000, paying $3,000 cash and the balance on Mar. 1 1 account. Purchased cleaning supplies for $2,000 on account. Paid $2,400 cash on a 6-month insurance policy effective March 1. Billed customers $3,700 for cleaning services. 18 3 14 Paid $1,500 cash on amount owed on truck and $500 on amount owed on cleaning supplies. Paid $1,750 cash for employee salaries. Collected $1,600 cash from customers billed on March 14. 28 20 21 Billed customers $4,200 for cleaning services. 31 Paid $350 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a $900 cash dividend. The chart of accounts for Geog Cleaners contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equip- ment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Sup- plies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense. Instouctions: Jooinalise the ol loncing tronsactione.ladjuslments] Seavices beatormed bet unbflled at March 31 was 200. (A) ) bepreciation on equipmeut tor The month was $250. One-Sixth (3) The insuaance expired. An inventory 'couit shows $280 of cleauing suplies at Moreh 31. (4) on hand (5) Accrued but enaid employe sala ries weee $1080. PasT adjusting () Prepare (B) entries. to The T. accounts. adjusled Trial halance. an & Photo Grid
P4-8B Geog Lav opened Geog Cleaners on March 1, 2014. During March, the following transactions were completed. Issued 10,000 shares of common stock for $15,000 cash. Purchased used truck for $8,000, paying $3,000 cash and the balance on Mar. 1 1 account. Purchased cleaning supplies for $2,000 on account. Paid $2,400 cash on a 6-month insurance policy effective March 1. Billed customers $3,700 for cleaning services. 18 3 14 Paid $1,500 cash on amount owed on truck and $500 on amount owed on cleaning supplies. Paid $1,750 cash for employee salaries. Collected $1,600 cash from customers billed on March 14. 28 20 21 Billed customers $4,200 for cleaning services. 31 Paid $350 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Declared and paid a $900 cash dividend. The chart of accounts for Geog Cleaners contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equip- ment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Sup- plies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense. Instouctions: Jooinalise the ol loncing tronsactione.ladjuslments] Seavices beatormed bet unbflled at March 31 was 200. (A) ) bepreciation on equipmeut tor The month was $250. One-Sixth (3) The insuaance expired. An inventory 'couit shows $280 of cleauing suplies at Moreh 31. (4) on hand (5) Accrued but enaid employe sala ries weee $1080. PasT adjusting () Prepare (B) entries. to The T. accounts. adjusled Trial halance. an & Photo Grid
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![P4-8B Geog Lav opened Geog Cleaners on March 1, 2014. During March, the following
transactions were completed.
Issued 10,000 shares of common stock for $15,000 cash.
Purchased used truck for $8,000, paying $3,000 cash and the balance on
Mar. 1
1
account.
Purchased cleaning supplies for $2,000 on account.
Paid $2,400 cash on a 6-month insurance policy effective March 1.
Billed customers $3,700 for cleaning services.
18
3
14
Paid $1,500 cash on amount owed on truck and $500 on amount owed on
cleaning supplies.
Paid $1,750 cash for employee salaries.
Collected $1,600 cash from customers billed on March 14.
28
20
21
Billed customers $4,200 for cleaning services.
31
Paid $350 for gas and oil used in truck during month (use Maintenance and
Repairs Expense).
31
Declared and paid a $900 cash dividend.
The chart of accounts for Geog Cleaners contains the following accounts: Cash, Accounts
Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equip-
ment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings,
Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Sup-
plies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense.
Instouctions:
Jooinalise the ol loncing tronsactione.ladjuslments]
Seavices beatormed bet unbflled at March 31 was 200.
(A)
) bepreciation on equipmeut tor The month was $250.
One-Sixth
(3)
The insuaance expired.
An inventory 'couit shows $280 of cleauing suplies
at Moreh 31.
(4)
on hand
(5)
Accrued but enaid employe sala ries weee $1080.
PasT adjusting
() Prepare
(B)
entries. to The T. accounts.
adjusled Trial halance.
an
& Photo Grid](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa844f31d-f43c-4f9c-9a31-af13fe9e0071%2F742380ea-85cd-4fcd-a338-e0c68ad91a3e%2Ftgd4t9a_processed.png&w=3840&q=75)
Transcribed Image Text:P4-8B Geog Lav opened Geog Cleaners on March 1, 2014. During March, the following
transactions were completed.
Issued 10,000 shares of common stock for $15,000 cash.
Purchased used truck for $8,000, paying $3,000 cash and the balance on
Mar. 1
1
account.
Purchased cleaning supplies for $2,000 on account.
Paid $2,400 cash on a 6-month insurance policy effective March 1.
Billed customers $3,700 for cleaning services.
18
3
14
Paid $1,500 cash on amount owed on truck and $500 on amount owed on
cleaning supplies.
Paid $1,750 cash for employee salaries.
Collected $1,600 cash from customers billed on March 14.
28
20
21
Billed customers $4,200 for cleaning services.
31
Paid $350 for gas and oil used in truck during month (use Maintenance and
Repairs Expense).
31
Declared and paid a $900 cash dividend.
The chart of accounts for Geog Cleaners contains the following accounts: Cash, Accounts
Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equip-
ment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings,
Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Sup-
plies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense.
Instouctions:
Jooinalise the ol loncing tronsactione.ladjuslments]
Seavices beatormed bet unbflled at March 31 was 200.
(A)
) bepreciation on equipmeut tor The month was $250.
One-Sixth
(3)
The insuaance expired.
An inventory 'couit shows $280 of cleauing suplies
at Moreh 31.
(4)
on hand
(5)
Accrued but enaid employe sala ries weee $1080.
PasT adjusting
() Prepare
(B)
entries. to The T. accounts.
adjusled Trial halance.
an
& Photo Grid
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