Required information
The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances:
Accounts | Debits | Credits | |||||
Cash | $ | 10,500 | |||||
Accounts Receivable | 6,100 | ||||||
Supplies | 2,100 | ||||||
Equipment | 19,500 | ||||||
Accumulated Depreciation | $ | 6,800 | |||||
Salaries Payable | 9,300 | ||||||
Common Stock | 15,500 | ||||||
Retained Earnings | 6,600 | ||||||
Totals | $ | 38,200 | $ | 38,200 | |||
The following is a summary of the transactions for the year:
1. | March | 12 | Provide services to customers, $41,000, of which $19,100 is on account. | |||
2. | May | 2 | Collect on accounts receivable, $16,100. | |||
3. | June | 30 | Issue shares of common stock in exchange for $6,000 cash. | |||
4. | August | 1 | Pay salaries of $9,300 from 2020 (prior year). | |||
5. | September | 25 | Pay repairs and maintenance expenses, $11,100. | |||
6. | October | 19 | Purchase equipment for $6,100 cash. | |||
7. | December | 30 | Pay $1,100 cash dividends to stockholders. |
Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $3,100. Office supplies remaining on hand at the end of the year equal $1,000. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.)
Journal entry worksheet
Note: Enter debits before credits.
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Note: Enter debits before credits.
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Note: Enter debits before credits.
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Adjusting Entries:
Date | Account title and Explanation | Debit | Credit |
Dec 31,2021 | Salaries expense | $19,600 | |
Salaries payable | $19,600 | ||
[To record accrued interest expense] | |||
Dec 31,2021 | Depreciation expense | $3,100 | |
Accumulated depreciation-equipment | $3,100 | ||
[To record depreciation expense] | |||
Dec 31,2021 | Supplies expense [2,100+-1,000] | $1,100 | |
Supplies | $1,100 | ||
[To record supplies used] |
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following...
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $ 18,500 7,700 3,700 13,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 4,400 6,400 23,500 9,100 $ 43,400 $ 43,400 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $57,000, of which $20,700 is on account. 2. May 2 Collect on accounts...
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $12,500 6,500 2,500 17,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 6,000 8,500 17,500 7,000 $39,000 $39,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $45,000, of which $19,500 is on account. 2. May 2 Collect on accounts receivable, $16,500. 3....
4 o Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Part 3 of 8 Credits 0.62 points Debits $13,000 6.600 2,600 17,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals eBook $ 5,800 8,300 18,000 7,100 $39,200 Print $39,200 References The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $46,000, of which $19,600 is...
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $ 18,500 7,700 3,700 13,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 4,400 6,400 23,500 9,100 $ 43,400 $ 43,400 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $57,000, of which $20,700 is on account. 2. May 2 Collect on accounts...
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 10,500 Accounts Receivable 6,100 Supplies 2,100 Equipment 19,500 Accumulated Depreciation $ 6,800 Salaries Payable 9,300 Common Stock 15,500 Retained Earnings 6,600 Totals $ 38,200 $ 38,200 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $41,000, of which $19,100 is on account. 2. May 2 Collect on...
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 10,500 Accounts Receivable 6,100 Supplies 2,100 Equipment 19,500 Accumulated Depreciation $ 6,800 Salaries Payable 9,300 Common Stock 15,500 Retained Earnings 6,600 Totals $ 38,200 $ 38,200 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $41,000, of which $19,100 is on account. 2. May 2 Collect on...
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 10,500 Accounts Receivable 6,100 Supplies 2,100 Equipment 19,500 Accumulated Depreciation $ 6,800 Salaries Payable 9,300 Common Stock 15,500 Retained Earnings 6,600 Totals $ 38,200 $ 38,200 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $41,000, of which $19,100 is on account. 2. May 2 Collect on...
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 10,500 Accounts Receivable 6,100 Supplies 2,100 Equipment 19,500 Accumulated Depreciation $ 6,800 Salaries Payable 9,300 Common Stock 15,500 Retained Earnings 6,600 Totals $ 38,200 $ 38,200 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $41,000, of which $19,100 is on account. 2. May 2 Collect on...
The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 20,000 Accounts Receivable 8,000 Supplies 4,000 Equipment 15,000 Accumulated Depreciation $ 5,000 Salaries Payable 7,500 Common Stock 25,000 Retained Earnings 9,500 Totals $ 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 on account. 2. May 2 Collect on accounts receivable,...
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $12,500 6,500 2,500 17,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 6,000 8,500 17,500 7,000 $39,000 $39,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $45,000, of which $19,500 is on account. 2. May 2 Collect on accounts receivable, $16,500. 3....