1. 2. 3. 4. 5. 6. The following is a summary of the transactions for the year: 7. March May June Accounts August September October December Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits $20,000 .8,000 4,000 15,000 Credits $ 5,000 7,500 25,000 9,500 $47,000 $47,000 12 Provide services to customers, $60,000, of which $21,000 is on account. 2 Collect on accounts receivable, $18,000. 30 Issue shares of common stock in exchange for $6,000 cash. 1 Pay salaries of $7,500 from 2023 (prior year). 25 Pay repairs and maintenance expenses, $13,000. 19 Purchase equipment for $8,000 cash. 30 Pay $1,100 cash dividends to stockholders. Required: 1. Set up the necessary T-accounts and enter the beginning balances from the trial balance. In addition to the accounts shown, the company also has accounts for Dividends, Service Revenue, Salaries Expense, Repairs and Maintenance Expense, Depreciation Expense, and Supplies Expense. 2

The followite is a summary of the transections for the year: 1. March 2. May 3. June 4. Alagus 5. September 6. October 7. December 12 Provide services to customen, $60,000, of which $21,000 is on account. 2. Collect on accounts receivable, 518,000 . 30 Issue shares of common stock in exchange for $6,000 cash. 1 Pay salaries of $7,500 from 2023 (prior year). 25 Pay repairs and maintenance expenses, $13,000. 19 Parchase equipment for 58,000 cash. 30 Pay $1.100 cash dividends to stockholders. Required: 1. Set up the necessary Taccounts and enter the bezinning balances from the trial balance. In addition to the accounts shown, the company also has accounts for Dividends, Service Revenue, Salaries Expense, Repairs and Maintenance Expense, Depreciation Expense and Supplies Expense 1. Set up the necessary T-accounts andenter the beginning balances from the trial balance. In addition to the accounts shown, the company also has accounts for Dividends, Service Revenue, Salaries Expense, Repairs and Maintenance Expense, Depreciation Expense, and Supplies Expense. 2. Record each of the summary transactions listed above. 3. Post the transactions to the accounts. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $5.000. Office supplies remaining on hand at the end of the year equal $1,200. 6. Post adjusting entries. 7. Prepare an adjusted trial balance. 8. Prepare an income statement for 2024 and a classified balance sheet as of December 31, 2024. 9. Record closing entries. 10. Post closing entries. 11. Prepare a post-closing trial balance