Mike Greenberg opened Sheffield Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $12,700 cash in the company. Purchased used truck for $8,480, paying $2,120 cash and the balance on account. 3 Purchased cleaning supplies for $950 on account. 5 Paid $1,920 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,920 for cleaning services performed. 18 Paid $1,060 cash on amount owed on truck and $530 on amount owed on cleaning supplies. 20 Paid $2,120 cash for employee salaries. 21 Collected $1,700 cash from customers billed on July 12. 25 Billed customers $2,650 for cleaning services performed. 31 Paid $310 for maintenance of the truck during month. 31 Owner withdrew $640 cash from the company.
Mike Greenberg opened Sheffield Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $12,700 cash in the company. Purchased used truck for $8,480, paying $2,120 cash and the balance on account. 3 Purchased cleaning supplies for $950 on account. 5 Paid $1,920 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,920 for cleaning services performed. 18 Paid $1,060 cash on amount owed on truck and $530 on amount owed on cleaning supplies. 20 Paid $2,120 cash for employee salaries. 21 Collected $1,700 cash from customers billed on July 12. 25 Billed customers $2,650 for cleaning services performed. 31 Paid $310 for maintenance of the truck during month. 31 Owner withdrew $640 cash from the company.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
MY NUMBERS ARE NOT COMING OUT CORRECTLY, CAN SOMEONE PLEASE HELP ME?
List of Accounts
Assistance Used
- Accounts Payable
Accounts Receivable Accumulated Depreciation -Buildings- Accumulated Depreciation-Equipment
- Accumulated Depreciation-Delivery Trucks
- Advertising Expense
- Buildings
- Cash
- Debt Investments
- Delivery Trucks
- Depreciation Expense
- Equipment
- Gasoline Expense
- Income Summary
- Income Tax Expense
- Income Taxes Payable
- Insurance Expense
- Interest Expense
- Interest Payable
- Interest Receivable
- Interest Revenue
- Inventory
- Land
- Long-term Debt
- Long-term Investments
- Maintenance and Repairs Expense
- Miscellaneous Expense
- Mortgage Payable
- No Entry
- Notes Payable
- Notes Receivable
- Owner's Capital
- Owner's Drawings
- Patent Needs
- Prepaid Advertising
- Prepaid Insurance
- Prepaid Rent
- Rent Expense
- Rent Revenue
- Salaries and Wages Expense
- Salaries and Wages Payable
- Service Revenue
- Short-Term Investments
- Stock Investments
- Supplies
- Supplies Expense
- Ticket Revenue
- Unearned Rent Revenue
- Unearned Service Revenue
- Utilities Expense
Transcribed Image Text:Current Attempt in Progress
Mike Greenberg opened Sheffield Window Washing Co. on July 1, 2020. During July, the following transactions were completed.
July 1
Owner invested $12,700 cash in the company.
1
Purchased used truck for $8,480, paying $2,120 cash and the balance on account.
3
Purchased cleaning supplies for $950 on account.
5
Paid $1,920 cash on a 1-year insurance policy effective July 1.
12
Billed customers $3,920 for cleaning services performed.
18
Paid $1,060 cash on amount owed on truck and $530 on amount owed on cleaning supplies.
20
Paid $2,120 cash for employee salaries.
21
Collected $1,700 cash from customers billed on July 12.
25
Billed customers $2,650 for cleaning services performed.
31
Paid $310 for maintenance of the truck during month.
31
Owner withdrew $640 cash from the company.
Transcribed Image Text:Date
Account Titles and Explanation
Debit
Credit
(To record cash invested in the business)
(To record purchase of truck.)
(To record maintenance of the truck)
(To record owner withdraws)
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