Karen Noonan opened Windsor Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb….

Karen Noonan opened Windsor Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb….

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Karen Noonan opened Windsor Cleaning Services Inc. on February 1, 2022. During February, the following transactions were
completed:
Feb. 1
1
1
1
3
4
5
5
16
17
18
20
Issued 4,700 shares of Windsor Cleaning Services common stock for $12,220. Each share has a $1.50 par.
Borrowed $7,520 on a 2-year, 6% note payable
Paid $8,480 to purchase used floor and window cleaning equipment from a company
going out of business ($4,530 was for the floor equipment and $3,950 for the window
equipment).
Paid $210 for February Internet and phone services.
Purchased cleaning supplies for $920 on account.
Hired 4 employees. Each will be paid $450 per 5-day work week (Monday-Friday),
Employees will begin working Monday, February 9.
Obtained insurance coverage for $9,250 per year. Coverage runs from February 1, 2022
through January 31, 2023. Karen paid $2,313 cash for the first quarter of coverage.
Discussions with the insurance agent indicated that providing outside window cleaning
services would cost too much to insure, Karen sold the window cleaning equipment for
$3,710 cash.
Billed customers $3,670 for cleaning services performed through February 13, 2022.
Received $504 from a customer for 4 weeks of cleaning services to begin February 21, 2022.
(By paying in advance, this customer received 10% off the normal weekly fee of $140)
Paid $280 on amount owed on cleaning supplies,
Paid $3 per share to buy 280 shares of Windsor Cleaning Services common stock from a shareholder
who disagreed with management goals. The shares will be held as treasury shares. 23
24
25
27
28
Billed customers $4,040 for cleaning services performed through February 20
Paid cash for employees’ wages for 2 weeks (February 9-13 and 16-20).
Collected $2.350 cash from customers billed on February 16.
Paid $210 for Internet and phone services for March
Declared and paid a cash dividend of $0.30 per share. Journalize the February transactions. (Credit account titles are automatically indented when amount is entered. Do not indent monually
If no entry is required, select “No Entry for the account titles and enter O for the amounts. Record journal entries in the order presented in
the problem)
Date
Account Titles and Explanation
Debit
Credit Karen Noonan opened Windsor Cleaning Services Inc. on February 1, 2022. During February, the following transactions were
completed:
Feb. 1
1
1
1
3
4
5
5
16
17
18
20
Issued 4,700 shares of Windsor Cleaning Services common stock for $12,220. Each share has a $1.50 par.
Borrowed $7,520 on a 2-year, 6% note payable
Paid $8,480 to purchase used floor and window cleaning equipment from a company
going out of business ($4,530 was for the floor equipment and $3,950 for the window
equipment).
Paid $210for February Internet and phone services.
Purchased cleaning supplies for $920 on account.
Hired 4 employees. Each will be paid $450 per 5-day work week (Monday-Friday),
Employees will begin working Monday, February 9.
Obtained insurance coverage for $9,250 per year. Coverage runs from February 1, 2022
through January 31, 2023. Karen paid $2,313 cash for the first quarter of coverage.
Discussions with the insurance agent indicated that providing outside window cleaning
services would cost too much to insure, Karen sold the window cleaning equipment for
$3,710 cash.
Billed customers $3,670 for cleaning services performed through February 13, 2022.
Received $504 from a customer for 4 weeks of cleaning services to begin February 21, 2022.
(By paying in advance, this customer received 10% off the normal weekly fee of $140)
Paid $280 on amount owed on cleaning supplies,
Paid $3 per share to buy 280 shares of Windsor Cleaning Services common stock from a shareholder
who disagreed with management goals. The shares will be held as treasury shares. 23
24
25
27
28
Billed customers $4,040 for cleaning services performed through February 20
Paid cash for employees’ wages for 2 weeks (February 9-13 and 16-20).
Collected $2.350 cash from customers billed on February 16.
Paid $210 for Internet and phone services for March
Declared and paid a cash dividend of $0.30 per share. Journalize the February transactions. (Credit account titles are automatically indented when amount is entered. Do not indent monually
If no entry is required, select “No Entry for the account titles and enter O for the amounts. Record journal entries in the order presented in
the problem)
Date
Account Titles and Explanation
Debit
Credit Karen Noonan opened Windsor Cleaning Services Inc. on February 1, 2022. During February, the following transactions were
completed:
Feb. 1
1
1
1
3
4
5
5
16
17
18
20
Issued 4,700 shares of Windsor Cleaning Services common stock for $12,220. Each share has a $1.50 par.
Borrowed $7,520 on a 2-year, 6% note payable
Paid $8,480 to purchase used floor and window cleaning equipment from a company
going out of business ($4,530 was for the floor equipment and $3,950 for the window
equipment).
Paid $210 for February Internet and phone services.
Purchased cleaning supplies for $920 on account.
Hired 4 employees. Each will be paid $450 per 5-day work week (Monday-Friday),
Employees will begin working Monday, February 9.
Obtained insurance coverage for $9,250 per year. Coverage runs from February 1, 2022
through January 31, 2023. Karen paid $2,313 cash for the first quarter of coverage.
Discussions with the insurance agent indicated that providing outside window cleaning
services would cost too much to insure, Karen sold the window cleaning equipment for
$3,710 cash.
Billed customers $3,670 for cleaning services performed through February 13, 2022.
Received $504 from a customer for 4 weeks of cleaning services to begin February 21, 2022.
(By paying in advance, this customer received 10% off the normal weekly fee of $140)
Paid $280 on amount owed on cleaning supplies,
Paid $3 per share to buy 280 shares of Windsor Cleaning Services common stock from a shareholder
who disagreed with management goals. The shares will be held as treasury shares. 23
24
25
27
28
Billed customers $4,040 for cleaning services performed through February 20
Paid cash for employees’ wages for 2 weeks (February 9-13 and 16-20).
Collected $2.350 cash from customers billed on February 16.
Paid $210 for Internet and phone services for March
Declared and paid a cash dividend of $0.30 per share. Journalize the February transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually
If no entry is required, select “No Entry for the account titles and enter O for the amounts. Record journal entries in the order presented in
the problem)
Date
Account Titles and Explanation
Debit
Credit

Expert Answer:

Answer rating: 100% (QA)

SOLUTION Here are the journal entries for the February transactions Feb 1 Cash 4 700 shares x 12 22
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