The trial balance of Kinnear Dry Cleaners on June 30 is given here.
|
KINNEAR DRY CLEANERS |
||
|
Debit |
Credit |
|
|
Cash |
$12,532 |
|
|
Accounts Receivable |
10,536 |
|
|
Supplies |
3,592 |
|
|
Equipment |
25,950 |
|
|
Accounts Payable |
$15,800 |
|
|
Unearned Service Revenue |
1,810 |
|
|
Common Stock |
35,000 |
|
|
$52,610 |
$52,610 |
|
The July transactions were as follows.
July 8 Received $5,189 in cash on June 30 accounts receivable.
9 Paid employee salaries $2,100.
11 Received $7,320 in cash for services provided.
14 Paid creditors $9,810 of accounts payable.
17 Purchased supplies on account $720.
22 Billed customers for services provided $4,700.
30 Paid employee salaries $3,114, utilities $1,767, and repairs $386.
31 Paid $400 cash dividend.
Instructions
(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of July 1. Provision should be made for the following additional accounts: Dividends, Service Revenue, Maintenance and Repairs Expense, Salaries and Wages Expense, and Utilities Expense.
(b) Journalize the transactions, including explanations.
(c) Post to the ledger accounts.
(d) Prepare a trial balance on July 31, 2012.