# math

posted by .

How do i do this practice math problem?

Julie Molony opened Julie’s Maids Catering Service on July 1, 2010. During July the company completed the following transactions:

July 1 Invested \$14,000 in common stocks in the business.
1 Purchased a delivery truck for \$10,000, paying \$3,000 cash and the balance on account.
3 Purchased cleaning supplies for \$800 on account.
5 Paid \$1,800 on a one-year insurance policy, effective July 1.
12 Billed customers \$3,800 for catering services.
18 Paid \$1,000 of amount owed on truck, and \$400 of amount owed on cleaning supplies.
20 Paid \$1,600 for employee salaries.
21 Collected \$1,400 for customers billed on July 12.
25 Billed customers \$1,500 for catering services.
31 Paid gas and oil for the month on the truck for \$400.
31 Paid dividends \$600 cash.

The chart of accounts for Julie’s Maid Catering Service contains the following accounts: No.101 Cash, No. 112 Account Receivable, No. 128 Cleaning Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation – Equipment, No. 201 Account Payable, No. 212 Salaries Payable, No. 301 Common Stocks, No. 306 Dividends, No. 400 Service Revenue, No. 633 Gas & Oil Expense, No. 634 Catering Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries Expense.

INSTRUCTIONS:

a)Journalize and post the July transactions.Use J1 for the journal reference.
b)Prepare a trial balance at July 31 on a worksheet.
1) Earned but unbilled fees at July 31 were \$1,300.
2) Depreciation on equipment for the month was \$200.
3) One-twelfth of the insurance expired.
4) An inventory count shows \$100 of catering supplies on hand at July 31.
5) Accrued but unpaid employee salaries were \$500.
c) Journalize and post the adjusting entries. Use J2 for the journal reference.
d) Prepare the income statement and retained earnings statement for July and a balance sheet at July 31, 2010.

• math -

Just do it yourself... you will never learn if you don't practice... CHEATERS NEVER PROSPER!;)

## Similar Questions

1. ### Math accounting

The following selected transactions were completed by Pilgrim Delivery Service during July: 1. Received cash from issuing capital stock, \$115,000 2. received cash for providing delivery service, \$58,000 3. Paid advertising expense, …

Leeann Company sold merchandise on credit to Janelle Company for \$1,000 on July 1, with terms of 2/10, net /30. On July 6, Janelle returned \$200 worth of merchandise claiming the materials was defective. On July 8, Leeann received …
3. ### accounting

Question 2.) Hawkeye Electric Company engaged in the following transactions during July. July 2 – Purchased inventory for cash, \$800 July 5 – Purchased store supplies on credit terms of net eom, \$600. July 8 – Purchased inventory …
4. ### General Math

A company had 66 fewer employees in July 2005 than July 2004. If this represents 5.5 percent of decrease, how many employees did the company have in July 2005?
5. ### Accounting

Julie Molony opened Julie's Maids Cleaning Service on July 1, 2010. During July, the company completed the transactions. July 1 Invested \$14,000 cash in the business 1 Purchased a used truck for \$10,000 paying \$3,000 cash and the balance …
6. ### acc 205

Caren Smith opened a medical practice. During July, the first month of operation, the business, titled Caren Smith, M.D., experienced the following events: Jul 6 Smith invested \$55,000 in the business by opening a bank account in the …
7. ### accounting

I need help, do not want the answer just stuck on how to solve this one. Here is the problem Elkins Company sold \$2,500,000, 8%, 10-year bonds on July 1, 2011. The bonds were dated July 1, 2011, and pay interest July 1 and January …
8. ### math

Brianna works at a sunglass shop. She earns \$9 per hour and a \$1 commission for each sale she makes. From July 1 to July 5, she saves all her money and doesn’t spend anything. Each day, from July 1 to July 5, Brianna worked 4 hours. …
9. ### Statistics

Use the following dates to compute the ALOS and median LOS and range. The discharge date is July 2nd (non-leap year). Round the ALOS to one decimal place. Admission Date LOS 1-2 January = 29; February = 28; March = 31; April = 30; …
10. ### Accounting

Hawkeye Electric Company engaged in the following transactions during July. Journalize the preceding transactions on the books of Hawkeye Electric Company using the perpetual system of inventory. July 2 – Purchased inventory for …

More Similar Questions