1. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances.
2.Record each of the summary transactions listed above
3. Prepare an unadjusted trial balance.
4. Record 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.
5. Prepare an adjusted trial balance.
6. Prepare an income statement for the year ended December 31, 2021.
7. Record closing entries.
8. Prepare a post-closing trial balance.
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. 1 Required information The following information applies to the questions pled below! The general ledger of Jackmobil Rentals at January 1, 2021, includes the following account balances: Camb $ 50,00 Recibie 125,00 Accounts Payable Com Notes Payable years) 315.000 dari Totale 1223,000 $223,000 0 The following is a summary of the transactions for the year arcary provide evices to customers, 177.4. 3. Ponty 33 provide evie toestems for cash, 82.00. March 19 let accounts recei. 147.200. 4. April 10 shares of common stock is exchange for 545,00 ca. 5. June 16 Perchase supplies on account, 55,100. 1. September 30 Yayaslaries for employee work in the current year, $79,200 Sober Tay advertising for the current The following information is available for the adjusting entries Accrued interest on the notes payable at your end mounted 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 w $3.000 1. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. 2. Record each of the summary transactions listed above 3. Prepare an unadjusted trial balance. 4. Record 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
