Reference no: EM13509068

The trial balance of Kinnear Dry Cleaners on June 30 is given here.

KINNEAR DRY CLEANERS  Trial Balance  June 30, 2012
	Debit	Credit
Cash	$12,532
Accounts Receivable	10,536
Supplies	3,592
Equipment	25,950
Accounts Payable		$15,800
Unearned Service Revenue		1,810
Common Stock		35,000
	$52,610	$52,610

The July transactions were as follows.

July 8 Received $5,189 in cash on June 30 accounts receivable.

9 Paid employee salaries $2,100.

11 Received $7,320 in cash for services provided.

14 Paid creditors $9,810 of accounts payable.

17 Purchased supplies on account $720.

22 Billed customers for services provided $4,700.

30 Paid employee salaries $3,114, utilities $1,767, and repairs $386.

31 Paid $400 cash dividend.

Instructions

(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of July 1. Provision should be made for the following additional accounts: Dividends, Service Revenue, Maintenance and Repairs Expense, Salaries and Wages Expense, and Utilities Expense.

(b) Journalize the transactions, including explanations.

(c) Post to the ledger accounts.

(d) Prepare a trial balance on July 31, 2012.