Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. During July the following transactions were completed.
July 1 Issued 13,492 shares of common stock for $13,492 cash.
July 1 Purchased used truck for $11,492, paying $2,145 cash and the balance on account.
July 3 Purchased cleaning supplies for $908 on account.
July 5 Paid $1,849 cash on 1-year insurance policy effective July 1.
July 12 Billed customers $3,249 for cleaning services.
July 18 Paid $1,244 cash on amount owed on truck and $524 on amount owed on cleaning supplies.
July 20 Paid $2,111 cash for employee salaries.
July 21 Collected $1,475 cash from customers billed on July 12.
July 25 Billed customers $2,632 for cleaning services.
July 31 Paid $379 for gas and oil used in the truck during month.
July 31 Declared and paid a $625 cash dividend.
1. Services provided but unbilled and uncollected at July 31 were $1,723.
2. Depreciation on equipment for the month was $276.
3. One-twelfth of the insurance expired.
4. An inventory count shows $360 of cleaning supplies on hand at July 31.
5. Accrued but unpaid employee salaries were $403.
I can figure out the Retained Earnings part of this...
i think the first one is 625???
thank you for your help!
Recently Asked Questions
- What are the differences between public goods and private goods?
- I have no idea where to start or how to solve this problem, but more importantly I would like to know how variance and covariance can affect each other. Thanks
- Suppose a budget line is drawn between pizza, on the horizontal axis, and tacos, on the vertical axis. How does a change in the price of a pizza affect the