Question

Required information The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 26,600 17,400 16,000 168,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,700 7,800 163,000 48,500 $228,000 $ 228,000 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $154, 100, and on account, $62,200. 2. February 12 Collect on accounts receivable, $53,500. 25 Receive cash in advance from customers, $14,900. 4. May 6 Purchase supplies on account, $13,200. 5. July 15 Pay property taxes, $10,500. 6. September 10 Pay on accounts payable, $13,400. 7. October 31 Pay salaries, $143,600. 8. November 20 Issue shares of common stock in exchange for $47,000 cash. 9. December 30 Pay $4,800 cash dividends to stockholders. 2. Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No General Journal Debit Credit Transaction January 09 February 12 April 25 May 06

Answer 1

transaction general journal debit credit 9-Jan cash accounts receivable service revenue $ $ 154,100 62,200 $ 216,300 12-Feb $ 53,500 cash accounts receivable $ 53,500 3 25-Apr $ 14,900 cash deferred revenue $ 14,900 6-May $ 13,200 supplies accounts payable $ 13,200 5 15-Jul $ 10,500 property tax expense cash $ 10,500

no. transaction general journal debit credit 6 10-Sep $ 13,400 accounts payable cash $ 13,400 31-Oct salaries expense $ 143,600 cash $ 143,600 8 20-Nov $ 47,000 cash common stock $ 47,000 9 30-Dec $ 4,800 dividends cash $ 4,800

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