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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]
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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
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Accounts Receivable
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Supplies
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Prepaid Insurance
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Equipment
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Accounts Payable
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Owner’s Capital
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Owner’s Drawings
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Service Revenue
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Gasoline Expense
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Salaries and Wages Expense
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Totals
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Depreciation Expense
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Accum. Depr.—Equipment
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Insurance Expense
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Supplies Expense
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Salaries and Wages Payable
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Totals
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Net Income
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Totals
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Click if you would like to Show Work for this question:
Open Show Work

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