Question

Complete all steps in accounting cycle. (LO 1, 2, 4) P4-5A Anya Clark opened Anya's Cleaning Service on July 1, 2017. During July, the following transactions were completed. GLS July 1 1 3 12 18 Anya invested $20,000 cash in the business. Purchased used truck for $12,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $2,100 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. Billed customers $4,500 for cleaning services. Paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. Paid $2,800 cash for employee salaries. Collected $3,400 cash from customers billed on July 12. Billed customers $6,000 for cleaning services. Paid $350 for the monthly gasoline bill for the truck. Withdraw $5,600 cash for personal use. 20 21 25 31 (b) Trial balance $37,700 (c) Adjusted trial balance $41,900 The chart of accounts for Anya's Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Pay- able, No. 212 Salaries and Wages Payable, No. 301 Owner's Capital, No. 306 Owner's Drawings, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense Instructions (a) Journalize and post the July transactions. Use page J1 for the journal and the three- column form of account. (b) Prepare a trial balance at July 31 on a worksheet. (c) Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled and uncollected revenue for services performed at July 31 were $2,700. (2) Depreciation on equipment for the month was $500. (3) One-twelfth of the insurance expired. (4) An inventory count shows $600 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $1,000. (d) Prepare the income statement and owner's equity statement for July and a classified balance sheet at July 31. (e) Journalize and post adjusting entries. Use page J2 for the journal. (1) Journalize and post closing entries and complete the closing process. Use page J3 for the journal. (g) Prepare a post-closing trial balance at July 31. (d) Net income 56,900 Total assets $29,500 (g) Post-closing trial balance $30,000

Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND CLOSING ENTRIES JOURNAL.

Answer 1

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy - General LE Paste Format Painter Clipboard Times New Rom - 12 - A A BI U - ->-A Font Wrap Text Merge & Center 1 D conditional complete se ... to . 3 Insert Delete Format AutoSum" AT A 2 Clear sort & Find & - % 3 8.09 Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format 2 Clear Sort & Find & Filter Select Editing Alignment Number Cells Α1 в с H I J K L т р E F G Anya's Cleaning Service For the month ended July 31st Adjustments Adjusted Trial Balance Debit Credit Debit Credit Balance Sheet Trial Balance Debit Income Statement Debit Credit Credit $ $ 2,700.00 $ $ $ 5,950.00 7,100.00 2,100.00 1,800.00 12,000.00 $ $ $ $ $ $ $ 5,950.00 9,800.00 600.00 1,650.00 12,000.00 7,200.00 20,000.00 $ $ 7,200.00 20,000.00 $ $ 5,600.00 5,600.00 5 Account Name Cash($20000-$4000-$1800-$1500-$1400+$3400- 6 $350-$5600-2800) 7 Accounts Receivable($4500-$3400+$6000) 8 Supplies 9 Prepaid Insurance 10 Equipment 11 Accounts Payable($8000+$2100-$1500-$1400) 12 Owner's Capital 13 Owner's Drawings 14 Service Revenue($4500+$6000) 15 Gasoline Expense 16 Salaries and Wages Expense 17 Depreciation Expense 18 Accumulated Depreciation 19 Insurance Expense 20 Supplies Expense 21 Salaries and Wages Payable 22 Total Sheet1 Sheet2 Sheet3 Select destination and press ENTER or choose Paste $ 10,500.00 $ 5,950.00 $ 9,800.00 1,500.00 $ 600.00 150.00 $ 1,650.00 $ 12,000.00 $ 7,200.00 $ 20,000.00 $ 5,600.00 2,700.00 $ 13,200.00 $ 350.00 $ 3,800.00 $ 500.00 500.00 $ 500.00 $ 150.00 $ 1,500.00 1,000.00 $ 1,000.00 5,850.00 $ 41,900.00 $ 41,900.00 $ $13,200.00 $ $ S $ 350.00 2,800.00 $ $ $ $ 350.00 3,800.00 500.00 $ 500.00 $ $ 1,000.00 500.00 $ 150.00 1,500.00 $ 5,850.00 $ $ $ 150.00 1,500.00 $ $ 1,000.00 28,700.00 $ 37,700.00 $ 37,700.00 $ $ 6,300.00 $13,200.00 $ 35,600.00 | : ՈՈՈ ՈՈ cnnnnn Average: 11219.88194 Count: 268 + Sum: 1615663 D O 100% 11:15 PAO ENG 20 NO 30-01-2020 W

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy - General LE Paste Format Painter Clipboard Times New Rom - 12 - A A BI U - ->-A Wrap Text Merge & Center 1 1 - 3 10 93 conditional Format se tt insert Delete Format Autosum * Clear sort & Find & - % 8.09 Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format 2 Clear Sort & Find & Filter Select Editing Font Alignment Number Cells A1 fi A K Balance Sheet Trial Balance Debit Adjustments Debit Adjusted Trial Balance Debit Credit income Statement Debit Credit Credit Credit 6 $ 1 $ 2,700.00 $ 5,950.00 7,100.00 2,100.00 1,800.00 12,000.00 $ $ $ $ 1,500.00 $ 150.00 $ $ 5,950.00 9,800.00 600.00 1,650.00 12,000.00 $ $ $ $ 7,200.00 20,000.00 $ 7,200.00 $ 20,000.00 7,200.00 20,000.00 $ 5,600.00 $ 10,500.00 $ 4 5 Account Name Cash($20000-$4000-$1800-$1500-$1400+$3400- $350-$5600-2800) Accounts Receivable($4500-$3400+$6000) 8 Supplies 9 Prepaid Insurance 10 Equipment 11 Accounts Payable($8000+$2100-$1500-$1400) 12 Owner's Capital 13 Owner's Drawings 14 Service Revenue($4500+$6000) 15 Gasoline Expense Salaries and Wages Expense Depreciation Expense 18 Accumulated Depreciation 19 Insurance Expense 20 Supplies Expense Salaries and Wages Payable 22 Total 23 Net Income 24 Total 25 Sheet1 Sheet2 Sheet3 Ready $ $ 350.00 2,800.00 1,000.00 500.00 $ 5,950.00 $ 9,800.00 $ 600.00 $ 1,650.00 $ 12,000.00 $ $ $ 5,600.00 $ 13,200.00 $ - 350.00 3,800.00 500.00 $ 150.00 1,500.00 $ 6,300.00 $13,200.00 $ 35,600.00 $ 6,900.00 $ 13,200.00 $ 13,200.00 $ 35,600.00 $ 17 Denn $ 5,600.00 2,700.00 $ 350.00 $ 3,800.00 $ 500.00 500.00 $ 150.00 $ 1,500.00 1,000.00 5,850.00 $ 41,900.00 $ $ 500.00 $ 13,200.00 $ $ $ $ 500.00 $ $ $ 1,000.00 $ 41,900.00 $ $ $ 150.00 1,500.00 21 Sa $ $ $ 37,700.00 $ 37,700.00 $ 5,850.00 1,000.00 28,700.00 6,900.00 35,600.00 Average: 11219.88194 100% + Count: 268 Sum: 1615663 DO OPA 0 11:15 30-01-2020 20_ O ENG W

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View AutoSum - A Cut Copy - General LE Paste Format Painter Clipboard Times New Rom - 12 - A A BI U - ->-A Font Wrap Text Merge & Center 9.% 2 to - A 3 conditional Fore Conditional Format Formatting as Table Styles Cell Styles u steren insert Delete Format Insert Delete Format Filly Ž Clearv 2 Clear Sort & Find & Filter Select Editing fra et de se Alignment Number Cells B C D E F G H I J K L Credit A1 fic A 29 Post Closing Entries 30 Particular 31 Service Revenue $ 32 To Income Summary | Service revenue transferred to Income summary 33 account) Debit 13,200.00 $ 13,200.00 34 $ 6,300.00 $ 3,800.00 1,500.00 350.00 500.00 150.00 $ 35 Income Summary 36 To Salaries and Wages Expense 37 To Supplies Expense 38 To Gasoline Expense 39 To Depreciation Expense To Insurance Expense (Expenses transferred to Income Summary 41 Account) 42 43 Owner's Capital 44 To Owner's Draings 45 (Drawings transfer to Owner's Capital Account) 46 47 Income Summary 48 To Owner's Capital 49 (Income transferred to Owner's Capital account) Sheet1 Sheet2 Sheet3 Ready $ 5,600.00 $ 5,600.00 $ 6,900.00 $ 6,900.00 Average: 11219.88194 Count: 268 Sum: 1615663 0 100% u 11:16 30-01-2020 20_ OPA O ENG N W

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy - General Wrap Text Merge & Center 1 1 - 3 Autosum * Times New Rom - 12 - A A BI U - ->-A Font Paste Insert Delete Format Conditional Format Formatting as Table Styles Format Painter Clipboard Cell Styles 2 Clear Sort & Find & Filter Select Editing Alignment Number Cells B C D E F G H I J K L $ 6,900.00 47 Income Summary 48 To Owner's Capital 49 (Income transferred to Owner's Capital account) 6,900.00 Balance Service Revenue Account Title Debit Credit S 4 500.00 Date 7-12-17 7-25-17 7-31-17 7-31-17 $ S 4,500.00 $ 4,500.00 6,000.00 $ 10,500.00 2,700.00 $13,200.00 S - Adjustment Closing $ 13,200.00 Balance Credit Date 7-31-17 7-31-17 Supplies Expens Account Title Adjustment Closing Debit 1.500.00 $ S $ 1,500.00 S 1,500.00 Balance Credit Date 7-31-17 7-31-17 Supplies Expense Account Title Adjustment Closing Debit 1,500.00 $ $ 1,500.00 1.500.00 S .. $ 68 Balance Gasoline Expense Account Title 60 Dehit Credit Sheet1 Sheet2 Sheet3 Ready Average: 11219.88194 Count: 268 Sum: 1615663 20 gol 100% 0 rue 11:16 ENG 30-01-2020 Đ .

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy - General LE Paste Format Painter Clipboard Times New Rom - 12 - A A BI U - ->-A Font Wrap Text Merge & Center 9.% , 1 1 - 3 conditional termine the insert Delete Format Autosum * 2 Clear spre Fune Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format 2 Clear Sort & Find & Filter Select Editing Alignment Number Cells AI A C D E Balance F G H I J K B Gasoline Expense Account Title L Date 7-31-17 7-31-17 Debit Credit 350.00 S 350.00 $ S Closing 350.00 Balance Credit Date 7-31-17 7-31-17 Depreciation Expense Account Title Adjustment Closing Debit 500.00 $ 500.00 $ $ $ 500.00 500 00S - Balance Date 7-31-17 7-31-17 Insurance Expense Account Title Adjustment Closing $ Debit Credit 150.00 S $ 150.00 S 150.00 . Balance Salaries and Wages Expense Account Title Credit Date 7-20-17 7-31-17 7-31-17 $ $ Debit 2.800.00 1,000.00 $ 2.800.00 $ 3,800.00 S . Closing S 3,800.00 87 88 Post Closing T1 D1 Sheet1 Sheet2 Sheet3 Ke Ready Average: 11219.88194 Count: 268 Sum: 1615663 80 100% Đ 0 11:16 30-01-2020 20_ OPA O ENG N W

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy - General 1 Wrap Text Merge & Center 1 - 3 LE Paste Format Painter Clipboard Autosum * Times New Rom - 12 - A A BI U - ->-A Font Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format 2 Clear Sort & Find & Filter Select Editing Alignment Number Cells A1 B C D E F G H I J K L 88 89 90 Account Name Cash 92 Accounts Receivable 93 Supplies 94 Prepaid Insurance 95 Equipment 96 Accumulated Depreciation 97 Accounts Payable 98 Salaries and Wages Payable 99 Owner's Capital($20000+$6900-$5600) 100 101 Total 102 103 Owner's Capital=Capital+Net Income-Drawings Post Closing Trial Balance Debit Credit $ 5,950.00 $ 9,800.00 $ 600.00 $ 1,650.00 $ 12,000.00 $ $ 500.00 7,200.00 1,000.00 21,300.00 $ $ 30,000.00 $ 30,000.00 104 105 106 207 108 109 Ke Ready Sheet1 Sheet2 Sheet30 Average: 11219.88194 Count: 268 Sum: 1615663 0 100% u 11:16 30-01-2020 SA A TENG N W