Problem- Dana La Fontseeopened Pro Window Washing Inc. on

Problem- Dana La Fontseeopened Pro Window Washing Inc. on July 1 2012. During July the followingtransactions were completed. July 1- Issued 12000shares of common stock for $12000 cash. July 1- Purchasedused truck for $8000 paying $2000 cash and the balance on account. July 3 – Purchasedcleaning supplies for $900 on account. July 5 – Paid $1800 cash on 1-year insurance policyeffective July 1. July 12 – Billedcustomers $3700 for cleaning services. July 18 – Paid $1000cash on amount owed on truck and $500 on amount owed on cleaning supplies. July 20 – Paid $2000cash for employee salaries. July 21 – Collected $1600 cash from customers billedon July 12. July 25 – Billed customers $2500 for cleaning services. July 31 – Paid $290for maintenance of the truck during month. July 31 – Declared and paid $600 cash dividend. The chart of accountsfor Pro Window Washing contains the following accounts: Cash Accounts ReceivableSupplies Prepaid Insurance Equipment Accumulated Depreciation Equipment AccountsPayable Salaries and Wages Payable Common Stock Retained Earnings DividendsIncome Summary Service Revenue Maintenance and Repairs Expense Supplies ExpenseDepreciation Expense Insurance Expense Salaries and Wages Expense. Instructions (a) Journalize theJuly transactions. (b) Post to theledger accounts. (Use T accounts.) (c) Prepare a trialbalance at July 31. (d) Journalize thefollowing adjustments. (1) Services providedbut unbilled and uncollected at July 31 were $1700. (2) Depreciation onequipment for the month was $180. (3) One-twelfth ofthe insurance expired. (4) An inventorycount shows $320 of cleaning supplies on hand at July 31. (5) Accrued butunpaid employee salaries were $400. (e) Post adjustingentries to the T accounts. (f ) Prepare anadjusted trial balance. (g) Prepare theincome statement and a retained earnings statement for July and a classified balance sheet at July31. (h) Journalize andpost closing entries and complete the closing process. (i) Prepare a post-closing trialbalance at July 31.

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