Question

Required information [The following information applies to the questions displayed below.] The general led ger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits Accounts $ 4,100 Cash Accounts 9,100 Receivable Supplies Equipment Accumulated 3,100 28,000 $ 6,400 Depreciation Accounts Payable Utilities 4,400 5,400 Payable Deferred Revenue 0 Common Stock Retained 19,000 9,100 Earnings $44,300 $44,300 Totals The following is a summary of the transactions for the year: 24 Provide plumbing services for cash, $16,000, and on account, $61,000 13 Collect on accounts receivable, $49,000 6 Issue shares of common stock in exchange for $12, 000 cash. 30 Pay salaries for the current year, $32,200 1. January 2. March 3. Мay 4. June 5. September 15 Pay utilities of $5,400 from 2020 (prior year). 6. November 7. December 24 Receive cash in advance from customers, $8,400. 30 Pay $2,200 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $$6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,800.

Answer 1

Cash					Accounts Receivable					Supplies					Equipment
Beg. Bal.	$   4,100.00	30-Jun	$ 32,200.00		Beg. Bal.	$   9,100.00	13-Mar	$ 49,000.00		Beg. Bal.	$ 3,100.00	31-Dec	$ 1,900.00		Beg. Bal.	$ 28,000.00	End. Bal.	$ 28,000.00
24-Jan	$ 16,000.00	5-Sep	$   5,400.00		24-Jan	$ 61,000.00	End. Bal.	$ 21,100.00				End. Bal.	$ 1,200.00
13-Mar	$ 49,000.00	30-Dec	$   2,200.00
6-May	$ 12,000.00
24-Nov	$   8,400.00	End. Bal.	$ 49,700.00
Accumulated Depreciation					Accounts Payable					Utilities Payable					Deferred Revenue
End. Bal.	$ 12,800.00	Beg. Bal.	$   6,400.00		End. Bal.	$   4,400.00	Beg. Bal.	$   4,400.00		5-Sep	$ 5,400.00	Beg. Bal.	$ 5,400.00		31-Dec	$   6,200.00	Beg. Bal.
		31-Dec	$   6,400.00							End. Bal.	$ 6,800.00	31-Dec	$ 6,800.00		End. Bal.	$   2,200.00	24-Nov	$   8,400.00
Common Stock					Retained Earnings					Dividends					Service Revenue
End. Bal.	$ 31,000.00	Beg. Bal.	$ 19,000.00		31-Dec	$ 32,200.00	Beg. Bal.	$   9,100.00		Beg. Bal.					31-Dec	$ 83,200.00	Beg. Bal.
		6-May	$ 12,000.00		31-Dec	$   6,800.00	31-Dec	$ 83,200.00		30-Dec	$ 2,200.00	31-Dec	$ 2,200.00				24-Jan	$ 77,000.00
					31-Dec	$   1,900.00											31-Dec	$   6,200.00
					31-Dec	$   6,400.00
					31-Dec	$   2,200.00
					End. Bal.	$ 42,800.00
Salaries Expense					Utilities Expense					Supplies Expense					Depreciation Expense
Beg. Bal.					Beg. Bal.					Beg. Bal.					Beg. Bal.
30-Jun	$ 32,200.00	31-Dec	$ 32,200.00		31-Dec	$   6,800.00	31-Dec	$   6,800.00		31-Dec	$ 1,900.00	31-Dec	$ 1,900.00		31-Dec	$   6,400.00	31-Dec	$   6,400.00