Question

SPARKLE CLEANING SERVICE 

Problem Data 

For the Month Ended July 31, 2016 

Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions.

The chart of accounts for SPARKLE Cleaning Service contains the following accounts: 

No. 101 Cash, No. 112 Accounts Receivable, No. 128 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, 

No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, 

No. 633 Gasoline Expense, No. 634 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. 1 2 

Answer 1

a)	Journal Entries
Date	Particular	Debit	Credit
Jul-01	Cash A/c	15000
	To common stock		15000
Jul-01	Truck A/c	12000
	To Accounts payable		12000
Jul-03	supplies A/c	1800
	To Accounts payable		1800
Jul-05	Prepaid insurance	2100
	To Cash		2100
Jul-12	Accounts receivable	4400
	To service Revenue		4400
Jul-18	Account payable	4000
	To cash		4000
Jul-20	salaries A/c	2000
	To Cash		2000
Jul-21	Cash A/c	2400
	To accounts receivable		2400
Jul-25	Accounts receivable	2200
	To service Revenue		2200
Jul-31	Gasoline expenses	500
	To Cash		500
Jul-31	Dividend	600
	To Cash		600

	Ledger
	Cash A/C
Particular	debit	Particular	credit
To common stock	15000	By prepaid insurance	2100
To accounts receivable	2400	By accounts payable	4000
		By salary	2000
		By gasoline expense	500
		By dividend	600
		By balance	8200
	17400		17400
	Common Stock
Particular	debit	Particular	credit
To balance	15000	By cash	15000
	15000		15000
	Truck
Particular	debit	Particular	credit
To accounts payable	12000	By balance	12000
	12000		12000
	Service reveune
Particular	debit	Particular	credit
To balance	6600	By accounts receivable	4400
		By accounts receivable	2200
	6600		6600
	Gasoline expenses
Particular	debit	Particular	credit
To Cash	500	By balance	500
	500		500
	Accounts payable
Particular	debit	Particular	credit
To cash	4000	By truck	12000
To Balnce	9800	By supplies	1800
	13800		13800
	Supplies
Particular	debit	Particular	credit
To Account payable	1800	By balance	1800
	1800		1800
	Prepaid insurance
Particular	debit	Particular	credit
To cash	2100	By balance	2100
	2100		2100
	Accounts receivable
Particular	debit	Particular	credit
To service revenue	4400	By Cash	2400
To service revenue	2200	By balance	4200
	6600		6600
	salaries
Particular	debit	Particular	credit
To Cash	2000	By balance	2000
	Dividend
Particular	debit	Particular	credit
To Cash	600	By balance	600
	600		600

b)	Trial Balance
	Particular	Debit	Credit
	Cash	8200
	Accounts Receivable	4200
	Supplies	1800
	prepaid insurance	2100
	equipment	12000
	Accounts payable		9800
	common stock		15000
	Dividend	600
	Service Revenue		6600
	salaries and wages expenses	2000
	Gasoline expenses	500
	Total	31400	31400

c)

Add a comment Know the answer? Add Answer to: Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. Your Answer: Post as a guest Your Name: What's your source? Earn Coins Coins can be redeemed for fabulous gifts. Log In Sign Up Post as anonymous Post Your Answer Similar Homework Help Questions Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. SPARKLE CLEANING SERVICEProblem DataFor the Month Ended July 31, 2016Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions.The chart of accounts for SPARKLE Cleaning Service contains the following accounts:No. 101 Cash, No. 112 Accounts Receivable, No. 128 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation - Equipment,No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 332 Dividends,... SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE... SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. July 1 Stockholders invested cash in the business in exchange for common stock. $15,000 1 Purchased a used cleaning truck on account. $12,000 3 Purchased cleaning supplies on account. $1,800 5 Paid on a one-year insurance policy, effective July 1. $2,100 12 Billed customers for cleaning services. $4,400 18 Paid... SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE... SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. July 1 Stockholders invested cash in the business in exchange for common stock. $15,000 1 Purchased a used cleaning truck on account. $12,000 3 Purchased cleaning supplies on account. $1,800 5 Paid on a one-year insurance policy, effective July 1. $2,100 12 Billed customers for cleaning services. $4,400 18 Paid... Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. P4-5B Jannero Pargo opened Pargo's Cleaning Service on July 1, 2012. During July the following transactions... P4-5B Jannero Pargo opened Pargo's Cleaning Service on July 1, 2012. During July the following transactions were completed. July Pargo invested $20,000 cash in the business. 1 Purchased used truck for $9,000, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $2,100 on account. 5 Paid $1,800 cash on one-year insurance policy effective July 1. 12 Billed customers $4,500 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $1,400 on amount owed... Heidi Jara opened Whispering Winds's Cleaning Service on July 1, 2022. During July, the following transactions... Heidi Jara opened Whispering Winds's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 Stockholders invested $20,000 cash in the business in exchange for common stock. Purchased used truck for $8,800, paying $4,100 cash and the balance on account. Purchased cleaning supplies for $2,300 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. Billed customers $4,600 for cleaning services. Paid $1,500 cash on amount owed... Heidi Jara opened Whispering Winds's Cleaning Service on July 1, 2022. During July, the following transactions... Heidi Jara opened Whispering Winds's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 Stockholders invested $20,000 cash in the business in exchange for common stock. Purchased used truck for $8,800, paying $4,100 cash and the balance on account. Purchased cleaning supplies for $2,300 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. Billed customers $4,600 for cleaning services. Paid $1,500 cash on amount owed... P4-5A Heidi Jara opened Jara's Cleaning Service on July 1, 2017. During July, the following transactions were completed. P4-5A Heidi Jara opened Jara's Cleaning Service on July 1, 2017. During July, the following transactions were completed.July 1 Stockholders invested $ 20,000 cash in the business in exchange for common stock.1 Purchased used truck for $ 9,000, paying $ 4,000 cash and the balance on account.3 Purchased cleaning supplies for $ 2,100 on account.5. Paid $ 1,800 cash on a 1-year insurance policy effective July 1 .12 Billed customers $ 4,500 for cleaning services.18 Paid $ 1,500 cash on... P4-SA Anya Clark opened Anya's Cleaning Service on July 1,2017. During July, the transactions were completed.... P4-SA Anya Clark opened Anya's Cleaning Service on July 1,2017. During July, the transactions were completed. Anya invested $20,000 cash in the business. July 1 1 Purchased used truck for $12,000, paying $4,000 cash and the balance on 3 5 12 18 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... Heidi Jara opened Pronghorn’s Cleaning Service on July 1, 2019. During July, the following transactions were... Heidi Jara opened Pronghorn’s Cleaning Service on July 1, 2019. During July, the following transactions were completed. July 1 Stockholders invested $19,800 cash in the business in exchange for common stock. 1 Purchased used truck for $9,200, paying $3,900 cash and the balance on account. 3 Purchased cleaning supplies for $2,100 on account. 5 Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,400 for cleaning services. 18 Paid $1,400 cash on amount owed on... ADVERTISEMENT Free Homework Help App Download From Google Play Scan Your Homework to Get Instant Free Answers Need Online Homework Help? Ask a Question Get Answers For Free Most questions answered within 3 hours. ADVERTISEMENT Share Your Knowledge Post an Article +5 Coins Post an Answer +5 Coins Post a Question with Answer +5 Coins ADVERTISEMENT Active Questions Humans have used horses for transportation for millions of years. Therefore, they will use horses for... asked 1 hour ago The following are the Jensen Corporation's unit costs of making and selling an item at a... asked 2 hours ago Does direct Medicare reimbursement of Advanced practice nurses increase access to their services? asked 3 hours ago List and explain why a company would choose to use a published compensation survey vs. creating... asked 3 hours ago A discrete random variable X can take values from 1 to 10. Find the variance of... asked 3 hours ago The primary financial goal of a corporation is to maximize: shareholders wealth. earnings per share. stock... asked 3 hours ago determine whether the vectors u=(1,2,3,), v=(-2,1,0) and w=(1,0,1) are linearly dependent or independent. asked 3 hours ago python Define a function called print_values which takes a dictionary object as a parameter. The function... asked 4 hours ago In Chapter 1 you created a program named Triangle in which you displayed a seven-line triangle... asked 4 hours ago Research question: What are the differences between separately stated and non separately stated transactions in an... asked 4 hours ago By using Arduino write a code that connects two LEDs to two push-buttons. Each button controls... asked 6 hours ago Bank of America has bonds that pay a coupon interest rate of 5.5 percent and mature... asked 6 hours ago ADVERTISEMENT DMCA About Contact Terms of Use Privacy Policy Academic Honesty Policy Homework Answer Scanner App © 2013-2022 ZuoTi.Pro user contributions licensed under cc by-sa 4.0