Question

Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 52,500 36,700 121,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 16,400 41,000 111,000 42,600 $211,000 $ 211,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $ 73,400. 2. February 25 Provide services to customers for cash, $80,800. 3. March 19 Collect on accounts receivable, $46,800. 4. April 30 Issue shares of common stock in exchange for $41,000 cash. 5. June 16 Purchase supplies on account, $14,300. 7 Pay on accounts payable, $12,400. 7. September 30 Pay salaries for employee work in the current year, $75,200. 8. November 22 Pay advertising for the current year, $23,600. 9. December 30 Pay $4,000 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $3,600 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $2,600 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $3,400. 4. Prepare an unadjusted trial balance. Credit JACKRABBIT RENTALS Unadjusted Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Supplies Land

Answer 1

Unadjusted trial balance

December 31,2021

Accounts	Debit	Credit
Cash	105900
Account receivable	63300
Supplies	14300
Land	121800
Account payable		18300
Notes payable		41000
Common Stock		152000
Retained earnings		42600
Dividend	4000
Service revenue		154200
Salaries and wages expense	75200
Advertising expense	23600
Total	408100	408100