Mike Greenberg opened 

Concord Window Washing Inc. on July 1, 2022. During July, the following transactions were complete

1-Jul Issued 13,200 shares of common stock for $13,200 cash.

1 Purchased used truck for $8,800, paying $2,200 cash and the ba
3 Purchased cleaning supplies for $990 on account.
5 Paid $2,040 cash on a 1-year insurance policy effective July 1.
12 Billed customers $4,070 for cleaning services performed.
18 Paid $1,100 cash on amount owed on truck and $550 on amoun
20 Paid $2,200 cash for employee salaries.
21 Collected $1,760 cash from customers billed on July 12.
25 Billed customers $2,750 for cleaning services performed.
31 Paid $320 for maintenance of the truck during month.
31 Declared and paid $660 cash dividend.

The chart of accounts for Concord Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Pr

a) Date Acct titles and explantation debit credit b) e) h)

1 cash 13,200
common stock 13,200
1 equipment 8800
cash 2200
accts payable 6600
3 supplies 990
accts payable 990
5 prepaid insurance 2040
cash 2040 Bal
12 accounts recievable 4070
service revenue 4070
18 accounts payable 1650
cash 1650
20 salaries and wages expense 2200
cash 2200
21 cash 1760
accounts recievable 1760
25 accounts recievable 2750 Bal
service revenue 2750
31 maintenance and repairs expense 320
cash 320
31 dividends 660
cash 660

Bal
 Bal

c) Prepare a trial balance at july 31

concord window washing inc.
trial balance
(date)
Debit Credit
cash cash cash $ 5,940.00
supplies acct rec accounts receivable $ 5,060.00
prepaid in supp supplies $ 990.00
equipmentprep ins prepaid insurance $ 2,040.00
notes payaequip equipment $ 8,800.00
accounts paccts pay accounts payable $ 5,990.00
unearned scommon stock common stock $ 13,200.00
common stdividends dividends $ 660.00
dividends service rev service revenue $ 6,820.00
service re maint+rep exp maintenance and repairs expense $ 320.00
salaries a sal+wages exp salaries and wages expense $ 2,200.00
rent expense $ 26,010.00 $ 26,010.00
totals

f) prepare an adjusted trial balance

concord window washing inc
adjusted trial balance
31-Jul-22
account titles debit credit
cash 5890
acct rec 6930
supp 350
prep ins 1870
equip 8800
accum dep - equip 200
acct payable 5940
sal + wages pay 440
common stock 13200
dividends 660
- service rev 8690
- maint + rep exp 320
- supp exp 640
- dep exp 200
- ins exp 170
- sal + wages exp 2640
28470 28470
ransactions were completed.

k for $13,200 cash.
ng $2,200 cash and the balance on account.
 on account.
e policy effective July 1.
services performed.
truck and $550 on amount owed on cleaning supplies.

s billed on July 12.

services performed.
ck during month.

s Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation—Equipment, Accounts Payable, Salaries and Wages P

cash accounts receivable supplies

date debit date credit date debit date credit date debit
1-Jul 13200 7/1/2022 2200 7/12/2022 4070 21-Jul 1760 7/3/2022 990
21-Jul 1760 7/5/2022 2040 25-Jul 2750
18-Jul 1650 31-Jul 1870
20-Jul 2200
31-Jul 320
31-Jul 660
5890 14960 9070 6930 8690 1760 350 990
blank prepaid insurance equipment
date debit date credit date debit date credit date debit
7/5/2022 2040 31-Jul 170 7/1/2022 8800

0 0 1870 2040 170 8800

dividends accounts payable common stock
date debit date credit date debit date credit date debit
31-Jul 660 18-Jul 1650 7/1/2022 6600
7/3/2022 990

660 0 1650 5940 7590 0

service revenue maintenance and repairs exense salaries and wages expense
date debit date credit date debit date credit date debit
7/12/2022 4070 31-Jul 320 20-Jul 2200
 25-Jul 2750 31-Jul 440
31-Jul 1870

8690 320 2640

d) journalize the following adjustments

1 Services performed but unbilled and uncollected at July 31 were $1,870.
2 Depreciation on equipment for the month was $200.
3 One-twelfth of the insurance expired.
4 A count shows $350 of cleaning supplies on hand at July 31.
5 Accrued but unpaid employee salaries were $440.
date acct titles debit credit
1) accounts r $ 1,870.00
service revenue $ 1,870.00
2) depreciati $ 200.00
accum dep. Equip $ 200.00
3) insurance $ 170.00
prep insurance $ 170.00
4) supplies e $ 640.00
supplies $ 640.00
5) salaries ex $ 440.00
salaries payable $ 440.00

g1) prepare the income statement for july

condord window washing inc
income statement
(date)
revenues
service rev 8690
expenses
supp exp 640
dep exp 200
sal + wages exp 2640
ins exp 170
main +rep exp 320
tot op. exp -3970
net income 4720

g2) prepare a retained arnings statement for july

 concord window washing inc.
retained earnings statement
(date)
beginning bal 0
add: Net income 4720

less: Dividends -660

Ending Bal 4060
e, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Re

depreciation expense accum dep - equip

date credit date debit date credit date debit date credit
31-Jul 640 31-Jul 200 31-Jul 200
200

640
supplies exp salaries and wages payable
date credit date debit date credit date debit date credit
31-Jul 640 31-Jul 440

640

0
income summary
date credit date debit date credit date debit date credit
7/1/2022 13200 31-Jul 3970 31-Jul 8690

end bal 4720

13200
nd wages expense
date credit
g3) prepare a classified balance sheet h) journalize and post closing entries
Concord window washing inc
balance sheet date account titles and explanatio
(date) 31-Jul service revenue
income summary
assets 31-Jul income summary
current assets supplies exp
cash 5890 depreciation expense
accounts receivabe 6930 salaries and wages expense
prepaid insurance 1870 insurance expense
cleaning supplies 350 maintenance and repairs exp
total current assets 15040 31-Jul income summary
? retained earnings
equipment 8800 31-Jul retained earnings
accumulated depreciation -200 8600 dividends
total Assets 23640

liabilities and stockholders equity

current liabilities
accounts payable 5940
salaries and wages payable 440
total liablilities 6380
equity
common stock 13200
retained earnings 4060
total equity 17260
total liab.+equity 23640
Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Exp

insurance expense
date debit date credit
31-Jul 170
170

retained earnings
date debit date credit
31-Jul 660 31-Jul 4720

4060

date debit date credit

t closing entries i) prepare post-closing trial balance at ju

account titles and explanation debit credit cash

service revenue 8690 accountsrec
income summary 8690 supplies
income summary 3970 prepaid ins
supplies exp 640 accumdep
depreciation expense 200 accounts pay
salaries and wages expense 2640 salaries and wag
insurance expense 170 common stock
maintenance and repairs expense 320
income summary 4720 - ret earn
retained earnings 4720 - inc summ
retained earnings 4060 - service rev
4060 - maintrepexp
- suppexp
- depexp
- insexp
- salwagexp
and Salaries and Wages Expense.
post-closing trial balance at july 31st
concord wondo washing inc
(date)
debit credit
cash 5890
accounts receivable 6930
supplies 350
prepaid insurance 1870
equipment 8800
accum dep 200
accounts pay 5940
salaries +w pay 440
common stock 13200
retained earnings 4060
23840 23840