How do i go about setting this up? Current Attempt in ProgressMike Greenberg opened Sheffield Window Washing Co. on July 1, 2020. During July, the following transactions were completed.July 1Owner invested $12,700 cash in the company.1Purchased used truck for $8,480, paying $2,120 cash and the balance on account.3Purchased cleaning supplies for $950 on account.5Paid $1,920 cash on a 1-year insurance policy effective July 1.12Billed customers $3,920 for cleaning services performed.18Paid $1,060 cash on amount owed on truck and $530 on amount owed on cleaning supplies.20Paid $2,120 cash for employee salaries.21Collected $1,700 cash from customers billed on July 12.25Billed customers $2,650 for cleaning services performed.31Paid $310 for maintenance of the truck during month.31Owner withdrew $640 cash from the company. SHEFFIELD WINDOW WASHING Co.Trial BalanceJuly 31, 2020DebitCredit$Totals24%24%24

Ledgers means where the transaction related with the particular account is posted at one place and…

Answered: SHEFFIELD WINDO WASHING OO. Trial…

Business

Accounting

SHEFFIELD WINDO WASHING OO. Trial Balance July 31, 2020 Debit Credit Totals %24 %24

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 3PB: Hajun Company started its business on May 1, 2019. The following transactions occurred during the...

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On October 1, 2019, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business: Oct. 1. Jay transferred cash from a personal bank account to an account to be used for the business, 18,000. 4.Paid rent for period of October 4 to end of month, 3,000. 10.Purchased a used truck for 23,750, paying 3,750 cash and giving a note payable for the remainder. 13.Purchased equipment on account, 10,500. 14.Purchased supplies for cash, 2,100. 15.Paid annual premiums on property and casualty insurance, 3,600. 15.Received cash for job completed, 8,950. Enter the following transactions on Page 2 of the two-column journal: 21.Paid creditor a portion of the amount owed for equipment purchased on October 13, 2,000. 24.Recorded jobs completed on account and sent invoices to customers, 14,150. 26.Received an invoice for truck expenses, to be paid in November, 700. 27.Paid utilities expense, 2,240. 27.Paid miscellaneous expenses, 1,100. Oct. 29. Received cash from customers on account, 7,600. 30.Paid wages of employees, 4,800. 31.Withdrew cash for personal use, 3,500. Instructions 1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) Journal entry explanations may be omitted. 2. Post the journal to a ledger of four-column accounts, inserting appropriate posting references as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. 3. Prepare an unadjusted trial balance for Pioneer Designs as of October 31, 2019. 4. Determine the excess of revenues over expenses for October. 5. Can you think of any reason why the amount determined in (4) might not be the net income for October?
Lavender Company started its business on April 1, 2019. The following are the transactions that happened during the month of April. Prepare the journal entries in the journal on Page 1. A. The owners invested $7,500 from their personal account to the business account. B. Paid rent $600 with check #101. C. Initiated a petty cash fund $250 check #102. D. Received $350 cash for services rendered. E. Purchased office supplies for $125 with check #103. F. Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days. G. Received $750 cash for services rendered. H. Paid wages $375, check #105. I. Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106. J. Increased Petty Cash by $70, check #107.
Collection of Amounts Previously Written Off Hannah purchased a laptop computer from Perry Corp. for $1,500. Hannahs receivable has been outstanding for over 180 days, and Perry determines that the total amount is uncollectible and writes off all of Hannahs debt. Hannah later receives a windfall and pays the amount of her balance to Perry Corp. Required: Make the appropriate journal entries (if any) to record the receipt of $450 by Perry Corp.
Natalie opened Natalie Washing co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invests $12,000 cash to start the business. July 3 Purchased used truck for $8,000, paying $2,000 cash and signing a 1-year, 10% note for the remainder. July 5 Purchased clening supplies for $900 on account. July10 Paid $1800 cash on a 1-year insurnace policy effective July 1 July 12 Billed customers $3700 fore cleaning services performed. July 15 Paid $500 on amount owed on cleaning supplies. July 16 Received $2500 for serviced to be performed evenly from July 16 through September 15. July 22 Paid $2000 for employee salaries. July 29 July 30 July 31 Collected $1600 cash from customers billed on July 12. Paid $290 for maintenance of the truck during month. Owner withdrew $600 from the business for personal expenses. Requirements: 1) Make a tabular analysis of the transactions on accounting equation. Use the following column headings: cash, Supplies, accounts…
journal entry
john began an Upholstery cleaning business on October 1,2020 and engaged in the following transactions during the month: Began business by depositing 12,000 in a Clean & Premium ltd bank oct 1 : account oct 2 :Ordered Cleaning supplies 3,000 oct 3: Purchased cleaning equipment for 2,800. oct 4 : Made two months' van lease payment in advance, 1,200 Received the cleaning supplies ordered on (Oct 2) oct 7: and agreed to pay half the amount in 10 days, and the rest in 30 days oct 9: Paid for repairs on the van with cash, 1,080 oct 12 : Received cash for cleaning upholstery, 960. oct 17: Paid half the amount owed on supplies purchased on Oct 7, 1,500. oct 21 : Billed customers for cleaning upholstery, 1,340 oct 24 :Paid cash for additional repairs on the van, RM80 oct 27 : Received 600 from the customers billed on October 21. oct 31 Made a cash withdrawal of 700. you are Required to A : Prepare the general journal based on the above transactions. B:…
Mike Greenberg opened Cheyenne Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $9,800 cash in the company. 1 Purchased used truck for $6,560, paying $1,640 cash and the balance on account. 3 Purchased cleaning supplies for $740 on account. 5 Paid $1,440 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,030 for cleaning services performed. 18 Paid $820 cash on amount owed on truck and $410 on amount owed on cleaning supplies. 20 Paid $1,640 cash for employee salaries. 21 Collected $1,310 cash from customers billed on July 12. 25 Billed customers $2,050 for cleaning services performed. 31 Paid $240 for maintenance of the truck during month. 31 Owner withdrew $490 cash from the company. Date Account Titles and Explanation Debit Credit July 1July…
Mike Greenberg opened Cheyenne Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $9,800 cash in the company. 1 Purchased used truck for $6,560, paying $1,640 cash and the balance on account. 3 Purchased cleaning supplies for $740 on account. 5 Paid $1,440 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,030 for cleaning services performed. 18 Paid $820 cash on amount owed on truck and $410 on amount owed on cleaning supplies. 20 Paid $1,640 cash for employee salaries. 21 Collected $1,310 cash from customers billed on July 12. 25 Billed customers $2,050 for cleaning services performed. 31 Paid $240 for maintenance of the truck during month. 31 Owner withdrew $490 cash from the company. List of accounts: Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated…
Prepare the journal entries to record the transactions assume JE#, accounts, and dates.
The following transactions occurred for Murphy Delivery Service during December 2020 Dec. 1: Murphy Delivery Service began operations by receiving $22,000 cash and a truck with a fair value of $15,000 from Russ Murphy. The business issued Murphy shares of common stock in exchange for this contribution. Dec. 1: Paid $4,080 cash for a one-year insurance policy. The policy begins on December 1. Dec. 4: Paid $1,400 cash for office supplies Dec. 12: Performed delivery services for a customer and received $4,800 cash. Dec. 15: Completed a large delivery job, billed the customer, $11,400, and received a promise to collect the $11,400 within one week. Dec. 18: Paid employee salary, $3,600. Dec. 20: Received $7,850 cash for performing delivery services. Dec. 22: Collected $6,400 in advance for delivery service to be performed later. Dec. 25: Collected $11,400 cash from a customer on account. Dec. 27: Purchased fuel for the truck, paying $750 on the account. (Credit Accounts Payable) Dec. 28:…
Illustration: Roth Contractor Corporation was incorporated on December 1, 2019 and had following transactions during December 1 Dec Issued Capital for 5000 cash 3 Dec Paid 1200 cash for three months rent in advance 4 Dec Purchased a used truck for 10,000 on credit 4 Dec Purchased Supplies of 1000 on credit 6 Dec Paid 1800 for a one-year truck insurance policy 7 Dec Billed a customer 4500 for work completed to date 8 Dec Collected 800 for work completed to date 12 Dec Paid the following expense in cash Advertisement 350  Interest 100  Telephone 75  truck operating 425 Wages 2500 15 Dec Collected 2000 of the amount billed on 7 dec 18 Dec Billed Customer 6500 for work completed to date 19 Dec Signed a 9000 contract for work to be performed in Jan 2017 22 Dec Paid the following Expenses Advertisement 200  Interest 150 Truck Operating 375 Wages 2500 27 Dec Collected advance on work to be done in January 28 Dec Received a bill for 100 for electricity used during the…
Mike Greenberg opened Blue Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July Owner invested $ 9,100 cash in the company. 1 Purchased used truck for $ 6,080, paying $ 1,520 cash and the balance on 1 account. 3 Purchased cleaning supplies for $ 680 on account. Paid $ 1,320 cash on a 1-year insurance policy effective July 1. 12 Billed customers $ 2,810 for cleaning services performed. Paid $ 760 cash on amount owed on truck and $ 380 on amount owed on 18 cleaning supplies. 20 Paid $ 1,520 cash for employee salaries. 21 Collected $ 1,220 cash from customers billed on July 12. 25 Billed customers $ 1,900 for cleaning services performed. 31 Paid $ 220 for maintenance of the truck during month. 31 Owner withdrew $ 460 cash from the company.