FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Mike Greenberg opened Swifty Window Washing Inc. on July 1, 2022. During July, the following transactions were completed.
July 1
1
3
5
12
18
20
21
25
31
31
Issued 14,200 shares of common stock for $14,200 cash.
Purchased used truck for $9,440, paying $2,360 cash and the balance on account.
Purchased cleaning supplies for $1,060 on account.
Paid $2,160 cash on a 1-year insurance policy effective July 1.
Billed customers $4,370 for cleaning services performed.
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Paid $1,180 cash on amount owed on truck and $590 on amount owed on cleaning supplies.
Paid $2,360 cash for employee salaries.
Collected $1,890 cash from customers billed on July 12.
Billed customers $2,950 for cleaning services performed.
Paid $340 for maintenance of the truck during month.
Declared and paid $710 cash dividend.
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The chart of accounts for Swifty 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, and Salaries and Wages Expense.
Based on this information above, journalize those entries, post those entries, create an unadjusted trial
balance, journalize and create financial statements. post closing entries, basically going through all the
stages from beginning to end. Please answer everything CORRECTLY. Thank you!
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