Reference no: EM132877453
Question - Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2019. During July, the company completed the following transactions.
July 1 Stockholders invested $17,000 cash in the business in exchange for common stock.
July 1 Purchased a used truck for $11,000, paying $2,600 cash and the balance on account.
July 3 Purchased cleaning supplies for $800 on account.
July 5 Paid $1,668 on a 1-year insurance policy, effective July 1.
July 12 Billed customers $3,600 for cleaning services.
July 18 Paid $1,200 of amount owed on truck, and $210 of amount owed on cleaning supplies.
July 20 Paid $1,500 for employee salaries.
July 21 Collected $1,600 from customers billed on July 12.
July 25 Billed customers $1,600 for cleaning services.
July 31 Paid gasoline for the month on the truck, $400.
July 31 Declared and paid a $800 cash dividend.
Required -
(a) Prepare a trial balance at July 31 on a worksheet.
(b) Enter the following adjustments on the worksheet, and complete the worksheet.
(1) Unbilled fees for services performed at July 31 were $1,500.
(2) Depreciation on equipment for the month was $210.
(3) One-twelfth of the insurance expired.
(4) An inventory count shows $300 of cleaning supplies on hand at July 31.
(5) Accrued but unpaid employee salaries were $500.
|
When implementing change in organization
: When implementing change in an organization, there are always cultural issues that are faced, such as not accepting change,
|
|
Significant challenge for today health care organization
: What are the significant challenge for today's health care organization?
|
|
What is the total contribution margin if jk chooses sales
: Margin per unit is $224 for the plush product and $310 for the supreme product. What is the total contribution margin if JK chooses the most profitable sales
|
|
Calculate the compounding effect of an annual 5 percent
: Calculate the compounding effect of an annual 5 percent merit pay increase on a salary of $60,000 over five years.
|
|
Prepare a trial balance at July on a worksheet
: July 18 Paid $1,200 of amount owed on truck, and $210 of amount owed on cleaning supplies. Prepare a trial balance at July on a worksheet
|
|
Analyze the group decision-making process
: 1. What diagnosis of the situation in the College of Business, Outstanding Faculty Award Committee?
|
|
What is the total price for services requiring direct labor
: Aven Salon, Using time and materials pricing, what is the total price for services requiring 3 direct labor hours and $161 of materials?
|
|
Describe the organization relevant history
: How a company's human resources are a source of competitive advantage. Choose Nike Inc. as your company.
|
|
What amount is the balance of Investment in Pen Inc
: Pen Inc. reported net income of $5,000,000 for the current year. What amount is the balance of Investment in Pen Inc. at the end of the current year
|