Question
10 7 points The general ledger of Green Stream Cleaners at January 1, 2024, includes the following account balances Accounts Cash Accounts Receivable Supplies
10 7 points The general ledger of Green Stream Cleaners at January 1, 2024, includes the following account balances Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Debits Credits $16,000 7,200 3,2001 11,000 $3,400 5,400 21,000 7,600 01 P Submit Check my work Retained Earnings Totals $ 37,400 $37,400 The following is a summary of the transactions for the year 1. March 12 2. May 2 3. June 30 4. August 1 5. September 25 Provide services to customers, $52,000, of which $20,200 is on account. Collect on accounts receivable, $17,200. Issue shares of common stock in exchange for $4,000 cash. Pay salaries of $5,400 from 2023 (prior year). Pay repairs and maintenance expenses, $12,200. 6. October 19 Purchase equipment for $7,200 cash, 7. December 30 Pay $1,200 cash dividends to stockholders. Required: 2. Record each of the summary transactions listed above 4. Prepare an unadjusted trial balance 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,700. Depreciation for the year on the equipment is $4,200 Office supplies remaining on hand at the end of the year equal $1,100 7. Prepare an adjusted trial balance. B-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. 9. Record closing entries. 1, 3, 6. & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances 11. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below.
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