Mike Greenberg opened Ayayai Window Washing Inc. on July 1, 2025. During July, the following transactions were completed.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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July 1
July 1
July 3
July 5
July 12
July 18
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Equipment
Accumulated Depreciation-Equipment
Accounts Payable
Salaries and Wages Payable
Common Stock
Retained Earnings
Maintenance and Repairs Expense
Supplies Expense
Depreciation Expense
14,400
5520
1080
2160
9600
350
2400
6480
744C
1440C
Transcribed Image Text:July 1 July 1 July 3 July 5 July 12 July 18 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Maintenance and Repairs Expense Supplies Expense Depreciation Expense 14,400 5520 1080 2160 9600 350 2400 6480 744C 1440C
Mike Greenberg opened Ayayai Window Washing Inc. on July 1, 2025. During July, the following transactions were completed.
July 1
1
3
5
12
18
20
21
25
31
31
Issued 14,400 shares of common stock for $14,400 cash.
Purchased used truck for $9,600, paying $2,400 cash and the balance on account.
Purchased cleaning supplies for $1,080 on account.
Paid $2,160 cash on a 1-year insurance policy effective July 1.
Billed customers $4,440 for cleaning services performed.
Paid $1,200 cash on amount owed on truck and $600 on amount owed on cleaning supplies.
Paid $2,400 cash for employee salaries.
Collected $1,920 cash from customers billed on July 12.
Billed customers $3,000 for cleaning services performed.
Paid $350 for maintenance of the truck during month.
Declared and paid $720 cash dividend.
The chart of accounts for Ayayai Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid
Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock,
Transcribed Image Text:Mike Greenberg opened Ayayai Window Washing Inc. on July 1, 2025. During July, the following transactions were completed. July 1 1 3 5 12 18 20 21 25 31 31 Issued 14,400 shares of common stock for $14,400 cash. Purchased used truck for $9,600, paying $2,400 cash and the balance on account. Purchased cleaning supplies for $1,080 on account. Paid $2,160 cash on a 1-year insurance policy effective July 1. Billed customers $4,440 for cleaning services performed. Paid $1,200 cash on amount owed on truck and $600 on amount owed on cleaning supplies. Paid $2,400 cash for employee salaries. Collected $1,920 cash from customers billed on July 12. Billed customers $3,000 for cleaning services performed. Paid $350 for maintenance of the truck during month. Declared and paid $720 cash dividend. The chart of accounts for Ayayai Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock,
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