Exercise 3

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Week 6 (T-Accounts)

Week 6:
P4-8A
Total Points: 100
Part A [15 pts] Parts B, E & H (T-Accounts) [25 pts] Parts C (TB before AJE's) [5pts] Parts G (Financial Statements) [30 pts] Part H (Post closing entries) [5 pts]
General Journal Cash Pro Window Washing Inc. Pro Window Washing Inc. General Journal
Date Account Titles Debit Credit 7/1 7/1 Trial Balance Income Statement Date Account Titles Debit Credit
July 1 Cash 7/21 7/5 July 31, 2012 For the Month Ended July 31, 2012 July 31 Service Revenue
Common Stock 7/18 Debit Credit Revenues Income Summary
1 Equipment 7/20 Cash Service Revenue 31 Income Summary
Accounts Payable 7/31 Accounts Receivable Expenses Salaries & Wages Expense
Cash 7/31 Supplies Salaries and wages expense Supplies Expense
3 Supplies 7/31 Bal. Prepaid Insurance Supplies expense Maintenance & Repair Expense
Accounts Payable Equipment Maintenance & Repair Expense Depreciation Expense
5 Prepaid Insurance Accounts Receivable Accumulated depreciation - equipment Depreciation expense Insurance Expense
Cash 7/12 7/21 Accounts payable Insurance expense 31 Income Summary
12 Accounts Receivable 7/25 Salaries & wages payable Total expenses Retained Earnings
Service Revenue 7/31 Common stock Net income 31 Retained Earnings
18 Accounts Payable 7/31 Bal. Dividends Dividends
Cash Service Revenue Pro Window Washing Inc.
20 Salaries & Wages Expense Supplies Salaries & Wages Expense Retained Earnings Statement Part I (Post-Closing TB) [5 pts]
Cash 7/3 7/31 Maintenance & Repair Expense For the Month Ended July 31, 2012 Pro Window Washing Inc.
21 Cash 7/31 Bal. Depreciation expense Retained earnings, July 1 Post-Closing Trial Balance
Accounts Receivable Insurance expense Add: Net income July 31, 2012
25 Accounts Receivable Prepaid Insurance Supplies expense Debit Credit
Service Revenue 7/5 7/31 Less: Dividends Cash
31 Maintenance & Repairs Expense 7/31 Bal. Retained earnings, July 31 Accounts Receivable
Cash Part D (Adjusting Journal Entries) [10 pts] Supplies
31 Dividends Equipment General Journal Pro Window Washing Inc. Prepaid Insurance
Cash 7/1 Date Account Titles Debit Credit Balance Sheet Equipment
7/31 Bal. (1) July 31 Accounts Receivable July 31, 2012 Accumulated depreciation - equipment
Service Revenue Assets Accounts payable
Accumulated Depr - Equipment (2) 31 Depreciation Expense Current Assets Salaries & wages payable
7/31 Accum. Depr. - Equipment Cash Common stock
7/31 Bal. (3) 31 Insurance Expense Accounts Receivable Retained Earnings
Prepaid Insurance Supplies
Accounts Payable (4) 31 Supplies Expense Prepaid insurance
7/18 7/1 Supplies Total current assets
7/3 (5) 31 Salaries & Wages Expense Property, Plant and Equipment
7/31 Bal. Salaries & Wages Payable Equipment
Less: Accumulated Depreciation - Equip.
Salaries & Wages Payable Total assets
7/31
7/31 Bal. Liabilites and Stockholders' Equity
Current Liabilities
Common Stock Accounts payable
7/1 Salaries and wages payable
7/31 Bal. Total current liabilities
Stockholders' equity
Retained Earnings Common stock
7/31 7/31 Retained earnings
7/31 Bal. Total stockholders' equity
Total liabilities and stockholders' equity
Dividends Parts F (TB After AJE's) [5pts]
7/31 7/31 Pro Window Washing Inc.
7/31 Bal. Trial Balance
July 31, 2012
Income Summary Debit Credit
7/31 7/31 Cash
7/31 Accounts Receivable
7/31 Bal. Supplies
Prepaid Insurance
Service Revenue Equipment
7/31 7/12 Accumulated depreciation - equipment
7/25 Accounts payable
7/31
7/31 Bal. Salaries & wages payable
Common stock
Maintenance & Repair Expense Dividends
7/31 7/31 Service Revenue
7/31 Bal. Salaries & Wages Expense
Maintenance & Repair Expense
Supplies Expense Depreciation expense
7/31 7/31 Insurance expense
7/31 Bal. Supplies expense
Depreciation Expense
7/31 7/31
7/31 Bal.
Insurance Expense
7/31 7/31
7/31 Bal.
Salaries & Wages Expense
7/20 7/31
7/31
7/31 Bal.

Week 6 (General Ledger)

Week 6:
P4-8A
Total Points: 100
Part A [15 pts] Parts B, E & H (General Ledger Accounts) [25 pts] Parts C (TB before AJE's) [5pts] Parts G (Financial Statements) [30 pts] Part H (Post closing entries) [5 pts]
General Journal Pro Window Washing Inc. Pro Window Washing Inc. Pro Window Washing Inc. General Journal
Date Account Titles Debit Credit General Ledger Trial Balance Income Statement Date Account Titles Debit Credit
July 1 Cash Cash July 31, 2012 For the Month Ended July 31, 2012 July 31 Service Revenue
Common Stock Date Trans. Type Debit Credit Balance Debit Credit Revenues Income Summary
1 Equipment Jul. 1 Beginning Balance - 0 Cash Service Revenue 31 Income Summary
Accounts Payable Jul. 1 GJ Accounts Receivable Expenses Salaries & Wages Expense
Cash Jul. 1 GJ Supplies Salaries and wages expense Supplies Expense
3 Supplies Jul. 5 GJ Prepaid Insurance Supplies expense Maintenance & Repair Expense
Accounts Payable Jul. 18 GJ Equipment Maintenance & Repair Expense Depreciation Expense
5 Prepaid Insurance Jul. 20 GJ Accumulated depreciation - equipment Depreciation expense Insurance Expense
Cash Jul. 21 GJ Accounts payable Insurance expense 31 Income Summary
12 Accounts Receivable Jul. 31 GJ Salaries & wages payable Total expenses Retained Earnings
Service Revenue Jul. 31 GJ Common stock Net income 31 Retained Earnings
18 Accounts Payable Dividends Dividends
Cash Accounts Receivable Service Revenue Pro Window Washing Inc.
20 Salaries & Wages Expense Date Trans. Type Debit Credit Balance Salaries & Wages Expense Retained Earnings Statement Part I (Post-Closing TB) [5 pts]
Cash Jul. 1 Beginning Balance - 0 Maintenance & Repair Expense For the Month Ended July 31, 2012 Pro Window Washing Inc.
21 Cash Jul. 12 GJ Depreciation expense Retained earnings, July 1 Post-Closing Trial Balance
Accounts Receivable Jul. 21 GJ Insurance expense Add: Net income July 31, 2012
25 Accounts Receivable Jul. 25 GJ Supplies expense Debit Credit
Service Revenue Jul. 31 AJE Less: Dividends Cash
31 Maintenance & Repairs Expense Retained earnings, July 31 Accounts Receivable
Cash Supplies Part D (Adjusting Journal Entries) [10 pts] Supplies
31 Dividends Date Trans. Type Debit Credit Balance General Journal Pro Window Washing Inc. Prepaid Insurance
Cash Jul. 1 Beginning Balance - 0 Date Account Titles Debit Credit Balance Sheet Equipment
Jul. 3 GJ (1) July 31 Accounts Receivable July 31, 2012 Accumulated depreciation - equipment
Jul. 31 AJE Service Revenue Assets Accounts payable
(2) 31 Depreciation Expense Current Assets Salaries & wages payable
Prepaid Insurance Accum. Depr. - Equipment Cash Common stock
Date Trans. Type Debit Credit Balance (3) 31 Insurance Expense Accounts Receivable Retained Earnings
Jul. 1 Beginning Balance - 0 Prepaid Insurance Supplies
Jul. 5 GJ (4) 31 Supplies Expense Prepaid insurance
Jul. 31 AJE Supplies Total current assets
(5) 31 Salaries & Wages Expense Property, Plant and Equipment
Equipment Salaries & Wages Payable Equipment
Date Trans. Type Debit Credit Balance Less: Accumulated Depreciation - Equip.
Jul. 1 Beginning Balance - 0 Total assets
Jul. 1 GJ
Liabilites and Stockholders' Equity
Accumulated Depreciation - Equipment Current Liabilities
Date Trans. Type Debit Credit Balance Accounts payable
Jul. 1 Beginning Balance - 0 Salaries and wages payable
Jul. 31 AJE Total current liabilities
Stockholders' equity
Accounts Payable Common stock
Date Trans. Type Debit Credit Balance Retained earnings
Jul. 1 Beginning Balance - 0 Total stockholders' equity
Jul. 1 GJ
Jul. 3 GJ Total liabilities and stockholders' equity
Jul. 18 GJ Parts F (TB After AJE's) [5pts]
Pro Window Washing Inc.
Salaries & Wages Payable Trial Balance
Date Trans. Type Debit Credit Balance July 31, 2012
Jul. 1 Beginning Balance - 0 Debit Credit
Jul. 31 AJE Cash
Accounts Receivable
Common Stock Supplies
Date Trans. Type Debit Credit Balance Prepaid Insurance
Jul. 1 Beginning Balance - 0 Equipment
Jul. 1 GJ Accumulated depreciation - equipment
Accounts payable
Retained Earnings
Date Trans. Type Debit Credit Balance Salaries & wages payable
Jul. 1 Beginning Balance - 0 Common stock
Jul. 31 CJE Dividends
Jul. 31 CJE Service Revenue
Salaries & Wages Expense
Dividends Maintenance & Repair Expense
Date Trans. Type Debit Credit Balance Depreciation expense
Jul. 1 Beginning Balance - 0 Insurance expense
Jul. 31 GJ Supplies expense
Jul. 31 CJE
Income Summary
Date Trans. Type Debit Credit Balance
Jul. 1 Beginning Balance - 0
Jul. 31 CJE
Jul. 31 CJE
Jul. 31 CJE
Service Revenue
Date Trans. Type Debit Credit Balance
Jul. 1 Beginning Balance - 0
Jul. 12 GJ
Jul. 25 GJ
Jul. 31 AJE
Jul. 31 CJE
Maintenance & Repair Expense
Date Trans. Type Debit Credit Balance
Jul. 1 Beginning Balance - 0
Jul. 31 GJ
Jul. 31 CJE
Supplies Expense
Date Trans. Type Debit Credit Balance
Jul. 1 Beginning Balance - 0
Jul. 31 AJE
Jul. 31 CJE
Depreciation Expense
Date Trans. Type Debit Credit Balance
Jul. 1 Beginning Balance - 0
Jul. 31 AJE
Jul. 31 CJE
Insurance Expense
Date Trans. Type Debit Credit Balance
Jul. 1 Beginning Balance - 0
Jul. 31 AJE
Jul. 31 CJE
Salaries & Wages Expense
Date Trans. Type Debit Credit Balance
Jul. 1 Beginning Balance - 0
Jul. 20 GJ
Jul. 31 AJE
Jul. 31 CJE