Accounting Help

Complete the Comprehensive Problem on pp. 189 and 190 of Financial Accounting.
Use the templates in Appendix G to complete the problem; complete all six tabs.
Post the completed Appendix G as an attachment.

a) General Journal

1

Cash

Accounts Payable

Cash

Accounts Payable

Cash

Cash

Cash

Accounts Receivable

Accounts Receivable

Service Revenue

Cash

31

Cash

Associate Level Material

Appendix G

Comprehensive Problem

Journalize Transactions

Use this template to journalize and post the July transactions for Julie’s Maid Cleaning Service, Inc.

GENERAL JOURNAL

J

1

DATE

ACCOUNT TITLE AND

EXPLANATION

REF.

DEBIT

CREDIT

July 1

Cash

Common Stock

Equipment

Accounts Payable

3

Cleaning Supplies

5

Prepaid Insurance

12

Accounts Receivable

Service Revenue

18

20

Salaries Expense

21

25

31

Gas & Oil Expense

Dividends

&R&A

b) and c)

Worksheet

Associate Level Material
Appendix G
Comprehensive Problem

Worksheet

Trial Balance

Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.

Cash
Accounts Receivable
Cleaning Supplies
Prepaid Insurance
Equipment
Accounts Payable
Common Stock
Dividends
Service Revenue

Salaries Expense

Totals

Prepare a 10-Column Worksheet
Complete this worksheet for Julie’s Maids Cleaning Service, Inc. Make sure to: a) Prepare a trial balance at July 31; b) Enter the five adjustments; c) Complete the remaining parts of the worksheet; and d) Verify your totals.
			JULIE’S MAIDS CLEANING SERVICE INC.
		For the Month Ended		July 31, 2008
Adjusted	Income
	Trial Balance	Adjustments	Statement
	Balance Sheet
Account Titles					Dr.					Cr.
Gas and Oil Expense
Total
	Depreciation Expense
	Accumulated Depreciation—Equipment
	Insurance Expense
	Cleaning Supplies Expense
		Salaries Payable
		Totals
Net Income

a) e) & f) Posting to Accounts

Associate Level Material
Appendix G
Comprehensive Problem

Cash

DATE EXPLANATION REF. DEBIT CREDIT

Accounts Receivable

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Cleaning Supplies

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Prepaid Insurance

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Equipment

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Accounts Payable

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Salaries Payable

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Common Stock

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Dividends

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Service Revenue

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Gas & Oil Expense

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Cleaning Supplies Expense

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Depreciation Expense

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Insurance Expense

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Salaries Expense

DATE EXPLANATION REF. DEBIT CREDIT BALANCE

Post Accounts

Post the July accounts for Julie’s Maids Cleaning Service, Inc. You have 18 accounts altogether.

GENERAL LEDGER

No. 101

BALANCE

No. 112

No. 128

No. 130

No. 157

Accumulated Depreciation – Equipment

No. 158

No. 201

No. 212

No. 311

Retained Earnings

No. 320

No. 332

Income Summary

No. 350

No. 400

No. 633

No. 634

No. 711

No. 722

No. 726

&R&A

d) Statements & Balance Sheet

Associate Level Material
Appendix G

s, and a Balance Sheet

and a Retained Earnings Statement for July. Also complete the classified Balance Sheet at July 31, 2008 for Julie’s Maids Cleaning Service, Inc.

JULIE’S MAIDS CLEANING SERVICE INC.
Income Statement
For the Month Ended July 31, 2008

expense

Retained Earnings Statement

For the Month Ended July 31, 2008

, July 1

JULIE’S MAIDS CLEANING SERVICE INC.
Balance Sheet

July 31, 2008

Cash

Cleaning supplies
Equipment
Retained earnings

Closing Entries and a Post-closing Trial Balance
Prepare Income and	Retained Earnings Statement
Prepare an	Income Statement
Revenues
Service revenue
Expenses
Salaries expense
	Cleaning supplies
Gas & oil expense
Depreciation expense
Insurance expense
Total expenses
Net income
	Retained earnings
Add: Net income
Less: Dividends
Retained earnings, July 31
Assets
Current assets
Accounts receivable
Prepaid insurance
Total current assets
Capital assets
Less: Accumulated depreciation
Total assets
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable
Salaries payable
Total current liabilities
Stockholders’ equity
Common stock
Total stockholders’ equity
Total liabilities and stockholders’ equity

&R&A

e) & f) Genl Journal

J2

and

J3

Associate Level Material
Appendix G
Comprehensive Problem

GENERAL JOURNAL J2

DATE

REF. DEBIT CREDIT

GENERAL JOURNAL J3

DATE ACCOUNT TITLE AND EXPLANATION REF. DEBIT CREDIT

Journalize Adjusting and Closing Entries
For Julie’s Maids Cleaning Service, Inc., a) Use General Journal J2 to journalize and post adjusting entries, and b) Use General Journal J3 to journalize and post closing entries.
	ACCOUNT TITLE AND EXPLANATION

g)

Post-Closing Trial Balance

Associate Level Material
Appendix G
Comprehensive Problem

JULIE’S MAIDS CLEANING SERVICE INC.
Post-Closing Trial Balance
July 31, 2008

DEBIT CREDIT

Cash
Accounts Receivable
Cleaning Supplies
Prepaid Insurance
Equipment
Accumulated Depreciation—Equipment
Accounts Payable
Salaries Payable
Common Stock

Retained Earnings
Totals

Preparing a Post Closing Trial Balance

Prepare a post-closing trial balance at July 31, 2008.

ACCOUNTS