Accounting ? Journalize, adjusting entries and trial balance, ledger accounts,

Dana La Fontsee
opened Pro Window Washing Inc. on July 1, 2012. During July

the following
transactions were completed.

July 1- Issued 12,000
shares of common stock for $12,000 cash.

July 1- Purchased
used truck for $8,000, paying $2,000 cash and the balance on


July 3 – Purchased
cleaning supplies for $900 on account.

July 5 – Paid $1,800 cash on 1-year insurance policy
effective July 1.

July 12 – Billed
customers $3,700 for cleaning services.

July 18 – Paid $1,000
cash on amount owed on truck and $500 on amount owed on

cleaning supplies.

July 20 – Paid $2,000
cash for employee salaries.

July 21 – Collected $1,600 cash from customers billed
on July 12.

July 25 – Billed customers $2,500 for cleaning services.

July 31 – Paid $290
for maintenance of the truck during month.

July 31 – Declared and paid $600 cash dividend.

The chart of accounts
for Pro Window Washing contains the following accounts: Cash,

Accounts Receivable,
Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation?

Equipment, Accounts
Payable, Salaries and Wages Payable, Common Stock, Retained

Earnings, Dividends,
Income Summary, Service Revenue, Maintenance and Repairs Expense,

Supplies Expense,
Depreciation Expense, Insurance Expense, Salaries and Wages



(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 $180.

(3) One-twelfth of
the insurance expired.

(4) An inventory
count shows $320 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.

(g) Prepare the
income statement and a retained earnings statement for July and a classified

balance sheet at July

(h) Journalize and
post closing entries and complete the closing process.

(i) Prepare a post-closing trial
balance at July 31.

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