Question

Check my work 1 Required information [The following information applies to the questions displayed below.) Part 1 of 8 The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: 3.75 points Credits Debits $ 56,500 40,700 125,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Connon Stock Retained Earnings Totale eBook 16,800 45,000 115,000 46,200 $223,000 $223,000 Print The following is a summary of the transactions for the year: fo References 1. January 12 Provide services to customers on account, $77,400. 2. February 25 Provide services to customers for cash, $82,800. 3. March 19 Collect on accounts receivable, $ 47,200. 4. April 30 Issue shares of common stock in exchange for $45,000 cash. 5. June 16 Purchase supplies on account, $15,100. 6. July 7 Pay on accounts payable, $12,800. 7. September 30 Pay salaries for employee work in the current year, $79,200. 8. November 22 Pay advertising for the current year, $24,000. 9. December 30 Pay $4,400 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $4,000 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $3,000 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $3,800.

Answer 1

Beg Bal. Cash 56 SVO (2800 (62 82800 79200 (32 47.200 24000 (8) 45000 4400 (3) Accounts Receivable BegiBd. 10700 147200 77400 170900 Sales Revenue IS 160200 77400 82800 (4) 111100 (2) Supplies (S) 15100 11300 Adj Accounts Payable 12800 (6800 15100 19100 Common Stock 115ooo Beg. Bali 45000 116000o Salaries Expense (72 7920082200 IS. 300 0 Beg. Bel, (5) Advertising Expense Dividends 4400 Lyyoo 24000 24000 IS 692 RE Interest Expenn Interest Payable 4000 Adj. youo 4000 IS Adj. 4000 Salones Payable Supplies Expense Adj. Booo Adi 111300 11300 IS Boro Is=income summary , RE=Retained Earning Adj. = Adjustment

Unadjusted Trial Balance - Cash Accounts Receivable Supplies I and Accounts Payable Notes Payable Common stock Retained Earnings Salaries Expens Dividends Admontising Expense Sales Revenu Total 7 Debit Credit 111100 70900 15100 125800 13100 45000 160000 46200 79200 4400 24000 1602001 430500 430500 Retained Earnings 46 2000 Beyin 2 4400 46200 38700 అం500 160200 Seni Sales Revenn Less: Salaries Exp 82200 Advertising Tap 24000 Internt Exp. 4000 Supplies Exp Addition to RE 11300 (121510) A 38.200

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