Question

Mike Greenberg coened Indigo Window Washing Inc on July 1, 2022. During July the following transactions were completed July 1 Issued 13 900 shares of common stock for $13.900 cash. Purchased used truck for $9.280.paying $2.320 cash and the balance on account 3 Purchased deaning supplies for $1.000 on account Paid $2040 cash on a 1 year insurance policy effective July 1 12 Bled customers 54.290 for cleaning services performed Paid $1.160 cash on amount owed on truck and $580 on amount owed on cleaning w is. Paid $2.320 cash for employee salaries Collected $1.860 cash from customers billed on 12 Bled customers $2.900 for cleaning services performed Paid 40 for maintenance of the truck during month 31 Declared and paid $700 cash dividend, The chart of accounts for indo Window Washing contains the lowing counts Cash Accounts Reci p es. Prepaid insurance Equipment. Accumulated Depreciation-opment Accounts Payable Salaries and Wages Payable. Common Stock Retard tamnings videos, income Summary Service Revenue. Maintenance and Repairs Soples bens. Depreciation D u rance pense and Salaries and was Expense.

Answer 1

Indigo Window Washing Journal Enteries Date Particulars 1.7.2022 Cash a/c Dr. To Common Stock (Common Stock issued) Debit in $ Credit in $ 13900 13900 Debit in $ Credit in $ 6300 5330 1040 2040 9280 6260 1.7.2022 Dr 9280 Truck a/c To Cash To Accounts Payable (Truck Purchased) Undjusted Trial Balamce For the Month ending 31.7.2022 Particulars Cash Accounts Receivable Supplies Prepaid Insuarnce Truck Accounts Payable Common Stock Cash Dividend Service Revenue Salaries and Wages Expense Maintenance and Repairs Expense Totals 2320 6960 13900 700 1040 7190 3.7.2022 Supplies a/c To Accounts Payable (Supplies ion account) 1040 2320 340 27350 27350 2040 5.7.2022 Prepaid Insuarnce a/c Dr. To Cash (1 year insurance paid) 2040 4290 12.7.2022 Accounts Receivable a/c Dr. To Service Revenue (Revenue on account) 4290 Dr. 1740 18.7.2022 Accounts Payable a/c To Cash (Creditors paid) 1740 2320 20.7.2022 Salaries and Wages Expense a/c Dr. To Cash (Wages paid) 2320 Dr 1860 21.7.2022 Cash a/c To Accounts Receivable (Cash from debtors) 1860 2900 25.7.2022 Accounts Receivable a/c Dr. To Service Revenue (Revenue on account) 2900 340 31.7.2022 Maintenance and Repairs Expense a/c Dr. To Cash (Expense paid) 340 Dr. 700 31.7.2022 Cash Dividend a/c To Cash (Dividend paid) 700

Common Stock Accounts Receivable Service Revenue Accounts Receivable Accounts Receivable 7190 4290 2900 Bal. Cash 13900 Truck 1860 Prepaid Insuarnce Accounts Payable Salaries and Wages Expense Maintenance and Repairs Expense Cash Dividend Bal. 15760 7190 7190 2320 2040 1740 2320 340 700 6300 15760 Salaries and Wages Expense Cash 2320 Bal. 2320 2320 2320 1860 Service Revenue Service Revenue Accounts Receivable 4290 Cash 2900 Bal. 7190 Cash Maintenance and Repairs Expense 340 Bal. 340 5330 7190 340 340 Supplies 1040 Accounts Payable Bal. 1040 1040 1040 Cash Prepaid Insuarnce 2040 Bal. 2040 2040 2040 Cash Accounts Payable Truck 2320 6960 Bal. 9280 9280 9280 Cash Accounts Payable 1740 Truck Supplies 6260 8000 6960 1040 Bal. 8000 13900 Common Stock Cash 13900 13900 Bal. 13900