Question

need help with the income statement amd balance sheet

MC Lumiy Dolce Values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Post-closing Zips Storage Trial Balance December 31, 2021 Account Title Debit Credit is 111,800 Cash Accounts Receivable Supplies Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Total 20,100 3,700 5,800 156,000 6,100 7,700 186,000 97,600 297,400 297.400 $ < General Ledger Income Statement > < Prev 1 of 1 Next >

Answer 1

Journal Entries Accounts Credit Sl.no 1 Cash Accounts Receivable Service Revenue Debit $ 142,100 $ 56,200 $ 198,300 2. $ 52,300 Cash Accounts Receivable $ 52,300 3 $ 13,700 Cash Deferred Revenue $ 13,700 4 $ 10,800 Supplies Accounts Payable $ 10,800 5 $ 9,300 Property Tax Expense Cash $ 9,300 6 $ 12,200 Accounts Payable Cash $ 12,200 7 Salaries Expense $ 131,600 Cash $ 131,600 8 Cash $ 35,000 Common Stock $ 35,000 9 $ 3,600 Dividends Cash $ 3,600 Adjusting Journal Entries 1 $ 7,800 Insurance Expense Prepaid Insurance $ 7,800 2 $ 7,100 Supplies Expense ($10,800-3,700] Supplies $ 7,100 3 $ 12,600 Deferred Revenue Service Revenue $ 12,600

Account Particulars $ $ $ Unadjusted Debit Credit 25,400 16,200 13,600 $ $ $ $ 156,000 Cash Accounts Receivable Prepaid Insurance Supplies Land Accounts Payable Deffered Revenue Common Stock Retained Earnings Dividends Service Revenue Property Tax Expense Salaries Expense Insurance Expense Supplies Expense TOTAL $ $ $ $ 7,500 $ 6,600 $ 151,000 46,100 $ Adisutments Adjusted Trial Balance Post-Closing Trial Balance Debit Credit Debit Credit Debit Credit 243,100 $ 156,700$ 111,800 $ 111,800 56,200 $ 52,300 $ 20,100 $ 20,100 $ 7,800 $ 5,800 $ 5,800 10,800 $ 7,100 $ 3,700 $ 3,700 $ 156,000 $ 156,000 12,200 $ 10,800 $ 6,100 $ 6,100 12,600 $ 13,700 $ 7,700 $ 7,700 $ 35,000 $ 186,000 $ 186,000 $ 46,100 $ 97,600 3,600 $ 3,600 $ 210,900 $ 210,900 9,300 $ 9,300 131,600 $ 131,600 7,800 $ 7,800 7,100 $ 7,100 494,300 $ 494,300 $ 456,800 $ 456,800 $ 297,400 $ 297,400 $ $ $ $ 211,200 $ $ 211,200 $

Zips Storage Income Statement For the Year Ended December 31,2021 Revenue Service Revenue $ 210,900 Total Revenues $ 210,900 Expenses: Property Tax Expense $ 9,300 Salaries Expense $ 131,600 Insurance Expense $ 7,800 Supplies Expense $ 7,100 Total Expenses $ 155,800 Net Income $ 55,100 Zips Storage Statement of Retained Earnings For the Year Ended December 31,2021 Balance, January 1 $ 46,100 Add: Net Income $ 55,100 Less: Dividends $ 3.600 Retained Earnings, Dec 31, $ 97,600 Assets Current Assets: Cash Accounts Receivable Prepaid Insurance Supplies Total Current Assets Long-term Assets: Land 6,100 7,700 Zips Storage Balance sheet At Dec 31,2021 Liabilities Current Liabilities: 111,800 Accounts Payable $ 20,100 Deffered Revenue $ 5,800 3,700 141,400 Total Liabilities S Shareholder's Equity 156,000 Common Stock $ Retained Earnings $ $ $ $ $ $ 13,800 $ 186,000 97,600 $ Total Long-term Asset Total Assets 156,000 Total Stockholders Equity 297,400 Total Liabilities and Stockholders Equity 283,600 297,400 $ $

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