Question

help with post-closing trial balnce

[The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances Credits Debits $ 4,150 9,150 3,150 29,000 $ 6,689 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals 4,660 5,689 19,500 9,150 $45,450 $45,450 The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $16,5ee, and on account, $61,500. 2. March 13 Collect on accounts receivable, $49,500. 3. May 6 Issue shares of common stock in exchange for $10,000 cash. 4. June 30 Pay salaries for the current year, $32,300, 5. September 15 Pay utilities of $5,689 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,600. 7. December 30 Pay $2,300 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $6,600. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $8,600 paid in advance by customers, $6,300 of the work has been completed by the end of the year Accrued utilities at year-end amounted to $6700

Answer 1

PIPERS PIOMBING fost closing Trial Balance December 31, 2021 Debit ] $48.5so credit Cash Curso 236504 495 00 + lo ooo Accounts Recevabee (also + 61500 - 49 500] $ 21, 1so $ looo $ 29 o • Supheres Eauipment • Accuweated Depescation (6600 + 6600) Accounts Payable vetilities Payable (5600 - 5600+ 6700] • Deferred Revenue [8600 - 6300] Commanstock (195co & loooo Retained Eavenings 2 Dividend • Service Revenue [16500 to 1500 utilities Expense Dehleedation • Salary Expense Supplies Expense [3150-1000] $ 13,200 $ 4600 $ 6700 $ 2300 $2950o $9156 $ 2300 $84300 $670 $6600 $32,300 $2150 Total $149750 $149750