balance sheet

7 80% 16:09 p.m. Activity No. 4 i... . Gillian Shaw opened Shaw's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Stockholders invested $10,000 cash in the business in exchange for common stock 1 Purchased used truck for $6,000, paying $3,000 cash and the balance on account 3 Purchased cleaning supplies for $1,200 on account 5 Paid 51,200 cash on a 1-year insurance policy effective March 1. 14 Billed customers 54,800 for cleaning services 18 Paid $1,500 cash on amount owed on truck and 5500 on amount owed on cleaning supplies 20 Paid $1,800 cash for employee salaries. 21 Collected $1,400 cash from customers billed on March 14. 28 Billed customers $4,500 for cleaning services 31 Paid $500 for the monthly gasoline bill for the truck. The chart of accounts for Shaw's Carpet Cleaners contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No, 157 Service Vehicle, No. 158 Accumulated Depreciation-Service Vehicle, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No, No, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. Instructions (al Journalize and post the March transactions in Taccount. (b) Prepare a trial balance at March 31 on a worksheet (c) Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled revenue for services performed at March 31 was $500 (2) Depreciation on service vehicle for the month was $300. (3) One-twelfth of the insurance expired. (4) An inventory count shows $250 of cleaning supplies on hand at March (5) Accrued but unpaid employee salaries were $550