anyone here actually enjoy accounting? maybe the better question would be does anyone enjoy accounting enough to help me with a big problem? this is a long shot but i figured that there could be a small chance that someone one here really likes accounting and is really good at it. and if so, this may be almost fun for them...the problem is below. the mediafire upload is the actual spreadsheet, and the rest is all the entries and instructions that need to be done. once again i know this is a long shot, but if you are good at this stuff and are in the mood, you will be doing me a huge favor
http://www.mediafire.com/?wtx1no0bjd4
Katie Gage opened New View Window Washing Inc. on July 1, 2007. During July the following transactions were completed.
July 1
Issued $11,000 shares of common stock for $11,000 cash.
1
Purchased used truck for $9,000, paying $3,000 cash and the balance on account.
3
Purchased cleaning supplies for $800 on account.
5
Paid $1,440 cash on 1-year insurance policy effective July 1.
12
Billed customers $3,200 for cleaning services.
18
Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
20
Paid $2,000 cash for employee salaries.
21
Collected $1,400 cash from customers billed on July 12.
25
Billed customers $2,000 for cleaning services.
31
Paid $260 for gas and oil used in the truck during month.
31
Declared and paid $600 cash dividend.
The chart of accounts for New View Window Washing contains the
following accounts: Cash, Accounts Receivable, Cleaning Supplies,
Prepaid Insurance, Equipment, Accumulated Depreciation—Equipment,
Accounts Payable, Salaries Payable, Common Stock, Retained Earnings,
Dividends, Income Summary, Service Revenue, Gas & Oil Expense,
Cleaning Supplies Expense, Depreciation Expense, Insurance Expense,
Salaries Expense.
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 provided but unbilled and uncollected at July 31 were $1,700.
2.
Depreciation on equipment for the month was $250.
3.
One-twelfth of the insurance expired.
4.
An inventory count shows $360 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.
(f) Cash $ 3,600
g.
Prepare the income statement and a retained earnings statement for July and a classified balance sheet at July 31.
(g) Tot. assets $19,530
h.
Journalize and post closing entries and complete the closing process.
i.
Prepare a post-closing trial balance at July 31.
http://www.mediafire.com/?wtx1no0bjd4
Katie Gage opened New View Window Washing Inc. on July 1, 2007. During July the following transactions were completed.
July 1
Issued $11,000 shares of common stock for $11,000 cash.
1
Purchased used truck for $9,000, paying $3,000 cash and the balance on account.
3
Purchased cleaning supplies for $800 on account.
5
Paid $1,440 cash on 1-year insurance policy effective July 1.
12
Billed customers $3,200 for cleaning services.
18
Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
20
Paid $2,000 cash for employee salaries.
21
Collected $1,400 cash from customers billed on July 12.
25
Billed customers $2,000 for cleaning services.
31
Paid $260 for gas and oil used in the truck during month.
31
Declared and paid $600 cash dividend.
The chart of accounts for New View Window Washing contains the
following accounts: Cash, Accounts Receivable, Cleaning Supplies,
Prepaid Insurance, Equipment, Accumulated Depreciation—Equipment,
Accounts Payable, Salaries Payable, Common Stock, Retained Earnings,
Dividends, Income Summary, Service Revenue, Gas & Oil Expense,
Cleaning Supplies Expense, Depreciation Expense, Insurance Expense,
Salaries Expense.
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 provided but unbilled and uncollected at July 31 were $1,700.
2.
Depreciation on equipment for the month was $250.
3.
One-twelfth of the insurance expired.
4.
An inventory count shows $360 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.
(f) Cash $ 3,600
g.
Prepare the income statement and a retained earnings statement for July and a classified balance sheet at July 31.
(g) Tot. assets $19,530
h.
Journalize and post closing entries and complete the closing process.
i.
Prepare a post-closing trial balance at July 31.
