Question

please use the info to fill out the sheet

July 1: Harry invested $18,000 cash in the business. July 1: account. Purchased used truck for $9,000, paying $2,000 cash and the balance on July 3: Purchased cleaning supplies for $1,800 on account. July 5: Paid $4,800 cash on two-year insurance policy effective July 1. July 12: Billed customers $1,500 for cleaning services. July 18: Paid $2,000 cash on amount owed on truck and $800 on amount owed on cleaning supplies. July 20: Paid $1,700 cash for employee salaries. July 21: July 25: July 31: July 31: Collected $400 cash from customers billed on July 12. Billed customers $9,000 for cleaning services. Paid gas and oil for month on truck $400. Withdrew $500 cash for personal use. The following adjusting entries are required for July 31: • Services provided but unbilled and uncollected at July 31 were $1,000 • Harry invested additional $1,500 Depreciation on equipment for the month was $350. • One month of the insurance expired. An inventory count shows $400 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were $700.

Answer 1

	Unadjusted		Adjustments		Adjsuted		Income statement		Balance sheet
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$6,200		$1,500		$7,700				$7,700
Accounts receivable	$10,100		$1,000		$11,100				$11,100
Cleaning supplies	$1,800			$1,400	$400				$400
Prepaid insurance	$4,800			$200	$4,600				$4,600
Truck	$9,000				$9,000				$9,000
Accumulated depreciation - Truck				$350		$350				$350
Accounts payable		$6,000				$6,000				$6,000
Salaries payable				$700		$700				$700
Harry, capital		$18,000		$1,500		$19,500				$19,500
Harry, withdrawls	500				$500				$500
Service revenue		$10,500		$1,000		$11,500		$11,500
Salaries expense	$1,700		$700		$2,400		$2,400
Gas and oil expense	$400				$400		$400
Depreciation expense			$350		$350		$350
Insurance expense			$200		$200		$200
Supplies expense			$1,400		$1,400		$1,400
Total	$34,500	$34,500	$5,150	$5,150	$38,050	$38,050	$4,750	$11,500	$33,300	$26,550
Net income							$6,750			$6,750
Total							$11,500	$11,500	$33,300	$33,300

Calculations for Unadjusted Trial Balance:

Cash
Harry, capital	$18,000
Payment for truck	($2,000)
Insurance	($4,800)
Payment to accounts payable-Truck	($2,000)
Payment to accounts payable-cleaning supplies	($800)
Salaries	($1,700)
Collections from customers	$400
Paid for gas and oil	($400)
Withdrawals	($500)
Total	$6,200
Accounts receivable
Sales on account	$1,500
Collections	($400)
Sales on account	$9,000
Total	$10,100
Accounts payable
Purchase of truck	$7,000
Purchase of supplies	$1,800
Payment for truck	($2,000)
Payment for supplies	($800)
Total	$6,000
service revenue
Services on account	$1,500
Services on account	$9,000
Total	$10,500