28 Received in cash the sum of $800 for cleaning services provided to clients a

Thursday July 7, 2022

28 Received in cash the sum of $800 for cleaning services provided to clients and $1150 for lawn mowing and gardening services provided during the past week.
28 Paid the assistant $760 for services provided to the business during the past fortnight.
30 Jason withdrew $2000 in cash from the business in order to pay for essential provisions for his family.
Additional information:
The accounting period closed on 30 June 2012 and the following additional data was available.
i. Wages owing to the assistant on 30 June amounted to $280.
ii. A physical count showed that only $120 of washing supplies and $340 of fuel and oil supplies were still on hand.
iii. Four weeks of advertisements had appeared in the local community newspaper up to 30 June.
iv. Cleaning services of $250 had been rendered to clients on 29 June but the invoice to bill these clients had not been prepared.
v. The business had provided cleaning services to its shopping centre client for 3 weeks of the first month (assumed to be 4 weeks long).
A. Prepare journal entries to record the June 2012 transactions for Jason Cleaning and Gardening Services and post these journal entries to suitable running balance ledger accounts. Provide appropriate account numbers and journal page numbers and record them in post ref. columns.
B. Prepare an unadjusted trial balance as at 30 June 2012.
C. Prepare adjusting entries and post them to the ledger accounts. Be careful to ensure that all adjusting entries have been recorded.
D. Prepare an adjusted trial balance.
E. Prepare closing entries post them to the accounts and prepare a post-closing trial balance.
F. Prepare the income statement the statement of changes in equity and the balance sheet as at 30 June 2012.
G. Prepare any suitable reversing entries on 1 July 2012 and post them to the accounts.

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