The trial balance of Kinnear Dry Cleaners on June 30 is given here.
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KINNEAR DRY CLEANERS
Trial Balance
June 30, 2012
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Debit
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Credit
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Cash
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$12,532
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Accounts Receivable
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10,536
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Supplies
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3,592
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Equipment
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25,950
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Accounts Payable
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$15,800
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Unearned Service Revenue
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1,810
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Common Stock
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35,000
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$52,610
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$52,610
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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.