Problem 4-5ADevine Brown opened Devine’s Carpet Cleaners on March .docx
Problem 4-5ADevine Brown opened Devine’s Carpet Cleaners on March .docx
Problem 4-5A Devine Brown opened Devine’s Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,940 cash in the business. 1 Purchased used truck for $6,050, paying $3,025 cash and the balance on account. 3 Purchased cleaning supplies for $1,128 on account. 5 Paid $1,788 cash on one-year insurance policy effective March 1. 14 Billed customers $4,723 for cleaning services. 18 Paid $1,538 cash on amount owed on truck and $402 on amount owed on cleaning supplies. 20 Paid $1,648 cash for employee salaries. 21 Collected $1,926 cash from customers billed on March 14. 28 Billed customers $2,561 for cleaning services. 31 Paid gasoline for month on truck $393. 31 Withdrew $769 cash for personal use. (a) Your answer is correct. Journalize the March transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 [removed] [removed] [removed] Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 2 of 5 used (b) and (c) Your answer is partially correct. Try again. Prepare a trial balance at March 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Earned but unbilled revenue at March 31 was $843. (2) Depreciation on equipment for the month was $463. (3) One-twelfth of the insurance expired. (4) An inventory count shows $273 of cleaning supplies on hand at March 31. (5) Accrued but unpaid employee salaries were $598. DEVINE’S CARPET CLEANERS Worksheet For the Month Ended March 31, 2012 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Accounts Receivable [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Supplies [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Prepaid Insurance [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Equipment [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Accounts Payable [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Owner’s Capital [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Owner’s Drawings [removed] [removed] [removed] [removed] [removed] [removed] [remove.
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Problem 4-5ADevine Brown opened Devine’s Carpet Cleaners on March .docx
- 1. Problem 4-5A Devine Brown opened Devine’s Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,940 cash in the business. 1 Purchased used truck for $6,050, paying $3,025 cash and the balance on account. 3 Purchased cleaning supplies for $1,128 on account. 5 Paid $1,788 cash on one-year insurance policy effective March 1. 14 Billed customers $4,723 for cleaning services. 18 Paid $1,538 cash on amount owed on truck and $402 on amount owed on cleaning supplies. 20 Paid $1,648 cash for employee salaries. 21 Collected $1,926 cash from customers billed on March 14. 28 Billed customers $2,561 for cleaning services. 31
- 2. Paid gasoline for month on truck $393. 31 Withdrew $769 cash for personal use. (a) Your answer is correct. Journalize the March transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit J1 J1 J1 J1 J1 J1 J1 J1 J1
- 3. J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 [removed] [removed] [removed] Click if you would like to Show Work for this question: Open Show Work
- 4. SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 2 of 5 used (b) and (c) Your answer is partially correct. Try again. Prepare a trial balance at March 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Earned but unbilled revenue at March 31 was $843. (2) Depreciation on equipment for the month was $463. (3) One-twelfth of the insurance expired. (4) An inventory count shows $273 of cleaning supplies on hand at March 31. (5) Accrued but unpaid employee salaries were $598. DEVINE’S CARPET CLEANERS Worksheet For the Month Ended March 31, 2012
- 5. Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash [removed] [removed]
- 6. [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Accounts Receivable [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
- 7. [removed] Supplies [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Prepaid Insurance [removed] [removed] [removed] [removed] [removed] [removed]
- 8. [removed] [removed] [removed] [removed] Equipment [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Accounts Payable [removed] [removed] [removed]
- 9. [removed] [removed] [removed] [removed] [removed] [removed] [removed] Owner’s Capital [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Owner’s Drawings
- 10. [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Service Revenue [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
- 11. [removed] [removed] Gasoline Expense [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Salaries and Wages Expense [removed] [removed] [removed] [removed] [removed]
- 12. [removed] [removed] [removed] [removed] [removed] Totals [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Depreciation Expense
- 13. [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Accum. Depr.—Equipment [removed] [removed] [removed] [removed] [removed] [removed] [removed]
- 14. [removed] Insurance Expense [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Supplies Expense [removed] [removed] [removed] [removed]
- 15. [removed] [removed] [removed] [removed] Salaries and Wages Payable [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] Totals [removed]
- 16. [removed] [removed] [removed] [removed] [removed] [removed] [removed] Net Income [removed] [removed] [removed] [removed] Totals
- 17. [removed] [removed] [removed] [removed] Click if you would like to Show Work for this question: Open Show Work