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ACC 101 Comprehensive Problem
Sunshine Cleaning Service
REQUIRED
(a)	Journalize and post the August transactions. Use page J1 for the journal.
(b)	Prepare a trial balance at August 31.
(c)	Journalize and post the adjusting entries. Use page J2 for the journal.
(d)	Prepare an adjusted trial balance at August 31.
(e)	Prepare the Income Statement and Statement of Owners Equity for August.
(f)	Prepare a classified Balance Sheet at August 31, 2017.
(g)	Journalize and post the closing entries. Use page J3 for the journal.
(h)	Prepare a post-closing trial balance at August 31.

ACC101 Comprehensive Problem

Sunshine Cleaning Service

Ethan Groom opened Sunshine Cleaning Service on August 1, 2017. During July, the company completed the following transactions:

Aug

1

Ethan Groom invested $42,000 cash and $5,800 of cleaning equipment in the business.

1

Purchased a used truck for $12,000, paying $3,500 cash and the balance on account.

3

Purchased cleaning supplies for $1,375 on account.

5

Paid $1,800 on a one-year insurance policy, effective August 1.

12

Billed customers $4,892 for cleaning services.

18

Paid $1,500 of amount owed on truck.

19

Paid $375 of amount owed for cleaning supplies.

20

Paid $968 for employee salaries.

21

Collected $3,225 from customers billed on August 12.

25

Billed customers $3,575 for cleaning services.

31

Paid gasoline for the month on the truck, $245.

31

Groom withdrew $900 for personal use.

Adjustments:

Aug

31

Earned but unbilled fees at August 31 were $2,795.

Depreciation on truck for the month was $250.

One-twelfth of the insurance expired.

An inventory count shows $548 of cleaning supplies on hand at August 31.

Accrued but unpaid employee salaries were $585.

Journal ...Page J1

Date	Description	Post. Ref.	Debit	Credit

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