Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4,3-5, 3-6, 3-7) (GL) The general ledger of...
Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $20,000 8,000 15,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 5,000 7,500 25,000 9,500 $47,000 $ 47,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is...
Problem 3-9A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) The general ledger of Zips Storage at January 1 2021. Includes the following account balances: Credits Debits $ 24,700 15,500 12,200 149,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,800 5,900 144,000 44,700 201,400 $ 201,400 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $135, 100,...
Exercise 7-21 Complete the accounting cycle using long-term asset transactions (L07-4, 7-7) (GL) On January 1, 2021, the general ledger of TNT Fireworks includes the following account balances: Credit Debit $ 58,900 25,400 $ 2,400 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Notes Receivable (52, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 36,500 14,400 157,000 15,000 222,000 52,800 $292,200 $ 292,200 During January 2021, the following transactions occur January 1 Purchase equipment for...
Problem 3-9A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) The general ledger of Zips Storage at January 1, 2021, Includes the following account balances: Credits Debits $ 24,700 15.500 12,200 149,000 Accounts cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,800 5.900 144.000 44,700 $201,400 $201,400 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $135, 100, and...
Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 17,500 Accounts Receivable 7,500 Supplies 3,500 Equipment 12,500 Accumulated Depreciation $ 4,000 Salaries Payable 6,000 Common Stock 22,500 Retained Earnings 8,500 Totals $ 41,000 $ 41,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $55,000, of...
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 25,600 16,400 14,000 158,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 7,700 6,800 153,000 46,500 $214,000 $214,000 The following is a summary of the transactions for the year: 3. April 4. May. 1. January 9 Provide storage services for cash, $144, 100, and on account, $57,200. 2. February 12 Collect on accounts...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,200 9,200 3,200 30,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,800 4,800 5,800 0 20,000 9,200 $ 46,600 $46,600 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $17,000, and on account, $62,000. 2. March 13 Collect on...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,500 9,500 3,500 36,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings $ 8,000 6,000 7,000 0 23,000 9,500 $53,500 Totals $53,500 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $20,000, and on account, $ 65,000. 2. March 13 Collect on...
please complete the required. the general journal, income
statement, and balance sheet.
GL2-14 Complete the full accounting cycle The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 3.900 8,900 2.900 24,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $5.600 3.600 4.600 17,000 8,900 $39,700 $39,700 The following is a summary of the transactions for the year: 1. January 24...
Exercise 3-21A Complete the accounting cycle (LO3-3, 3-4, 3-5,
3-6) (GL)
On January 1, 2021, the general ledger of Dynamite Fireworks
includes the following account balances:
Accounts
Debit
Credit
Cash
$
24,300
Accounts Receivable
5,700
Supplies
3,600
Land
55,000
Accounts Payable
$
3,700
Common Stock
70,000
Retained Earnings
14,900
Totals
$
88,600
$
88,600
During January 2021, the following transactions occur:
January
2
Purchase rental space for one year in advance, $7,500
($625/month).
January
9
Purchase additional supplies on account,...