How do I prepare a trial balance on a worksheet? STANDARD VIEW PRINTER Comprehen

Question

How do I prepare a trial balance on a worksheet? STANDARD VIEW PRINTER Comprehensive Problem 4 (Part Level Submission) Ashley Williams opened Ashley's Maids Cleaning Service on Jul Duly 1 Invested $16,800 cash in the business. y 1, 2017. During July, the company completed the following transactions. 1 Purchased a used truck for $10,500, paying $2,600 cash and the balance on account 3 Purchased cleaning supplies for $800 on account 5 Paid $1,536 on a one-year insurance policy, effective July 1. 12 Billed customers $4,000 for cleaning services. 18 Paid $1,200 of amount owed on truck, and $270 of amount owed on cleaning supplies. 20 Paid $1,700 for employee salaries. 21 Collected $1,500 from customers billed on July 12 25 Billed customers $1,700 for cleaning services. 31 Paid gasoline for the month on the truck, $200, 31 Withdrew $700 cash for personal use.

Explanation / Answer

ASHLEY'S MAIDS CLEANING SERVICE Work Sheet For The Month Ended July 31, 2017 Trial Balance Adjustments Adjusted Trial Balance Income Summary Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Balance Sheet Accounts: Cash      10,094.00      10,094.00      10,094.00 Accounts Receivable        4,200.00      1,300.00        5,500.00        5,500.00 Supplies            800.00          500.00            300.00            300.00 Prepaid Insurance        1,536.00 128             1,408.00        1,408.00 Equipment      10,500.00      10,500.00      10,500.00 Accounts Payable        7,230.00        7,230.00        7,230.00 Owners' Capital      16,800.00      16,800.00      16,800.00 Owners' Drawing            700.00            700.00            700.00 Service Revenue        5,700.00      1,300.00        7,000.00        7,000.00 Gasoline Expense            200.00            200.00            200.00 Salaries & Wages Expense        1,700.00          600.00        2,300.00        2,300.00 Totals      29,730.00      29,730.00 Depreciation Expense          240.00            240.00            240.00 Accumulated Dep. - Equipment          240.00            240.00            240.00 Insurance Expense 128                 128.00            128.00 Supplies Expense          500.00            500.00            500.00 Salaries & Wages Payable          600.00            600.00            600.00 Totals      29,730.00      29,730.00      2,768.00      2,768.00      31,870.00      31,870.00        3,368.00        7,000.00      28,502.00      24,870.00 Net Income        3,632.00                     -                       -          3,632.00 Totals        7,000.00        7,000.00      28,502.00      28,502.00

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