Question

Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Debits Credits Асcounts $12,500 6,500 2,500 17,500 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings 6,000 8,500 17,500 7,000 $39,000 $39,000 Totals The following is a summary of the transactions for the year: 1. March 2. Мay 3. June 4. August 5. September 25 Pay repairs and maintenance expenses, $11,500. 6. Оctober 7. December 12 Provide services to customers, $45,000, of which $19,500 is on account. 2 Collect on accounts receivable, $16,500. 30 Issue shares of common stock in exchange for $5,000 cash. 1 Pay salaries of $8,500 from 2020 (prior year). 19 Purchase equipment for $6,500 cash. 30 Pay $1,000 cash dividends to stockholders.

Answer 1

Credit 12500+25500+16500+5000-8500-11500-6500-1000 6500+19500-16500 17500+6500 $ 6,000 Red Storm Cleaners Unadjusted trial balance December 31,2021 Accounts Debit Cash $32,000 Accounts Receivable $ 9,500 Supplies $ 2,500 Equipment $ 24,000 Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends $ 1,000 Service Revenue Salaries Expenses Repairs & Mainteanance Expenses $11,500 Depreciation Expenses Supplies Expenses $ 80,500 $ - $ 22,500 17500+5000 $ 7,000 $45,000 $80,500