1 The general ledger of Zips Storage at January 1, 2024, Includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Debits $25,200 Credits 16,000 13,200 154,000 $7,300 6,400 149,000 45,700 $208,400 $208,400 Common Stock Retained Earnings Totals: The following is a summary of the transactions for the year 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $140, 100, and on account, $55,200. Collect on accounts receivable, $52,100. Receive cash in advance from customers, $13,500. Purchase supplies on account, $10,400. Pay property taxes, $9,100. Pay on accounts payable, $12,000. Pay salaries, $129,600. Issue shares of common stock in exchange for $33,000 cash. Pay $3,400 cash dividends to stockholders. Insurance expired during the year is $7.600. Supplies remaining on hand at the end of the year equal $3,500. Provide services of $12,400 related to cash paid in advance by customers. oints Choose the appropriate accounts to be reported on the income statement. The unadjusted, a will appear for each account, based on your selection. eBook Adjusted Print References Zips Storage Income Statement For the Year Ended December 31, 2024 Revenues: Accounts Receivable Cash Total Revenues $ 19,100 109,800 128,900 Expenses: Salaries Expense 129,600 Property Tax Expense 9,100 Supplies Expense 3,500 Insurance Expense 7,600 Total Expenses Trial Balance 149,800 $ (20,900) Balance The balance sheet is the accounting equation: Assets Liabilities + Equity. Each asset and liability account is reported separately on t balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted Assets Current Assets: Cash Supplies Accounts Receivable Total Current Assets Long-term Assets: Land Total Assets Zips Storage Balance Sheet December 31, 2024 Liabilities Current Liabilities: 109,800 Deferred Revenue 4 6,900 Accounts Payable 7,500 F 5,700 19,100 Total Current Liabilities 13,200 Stockholders' Equity 135,800 Common Stock 182,000 Retained Earnings 21,400 154,000 0 0 Total Stockholders' Equity $ 289,800 Total Liabilities and Stockholders' Equity 203,400 $ 216,600 Income Statement Halance Sheet >