Question
10 7 points The general ledger of Green Stream Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Debits $12,500 Credits
10 7 points The general ledger of Green Stream Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Debits $12,500 Credits Accounts Receivable 6,500 Supplies 2,500 Equipment * 17,500 Accumulated Depreciation $ 6,000 Salaries Payable 0,500 Common Stock 17,500 Retained Earnings 7,000 Book Prin References Totals $39,000 $39,000 The following is a summary of the transactions for the year: 1. March 12 2. May 2 3. June 30 4. August 11 5. September 25 6. October 19 7. December 30 Required: Provide services to customers, $45,000, of which $19,500 is on account. Collect on accounts receivable, 516,500. Issue shares of common stock in exchange for $5,000 cash. Pay salaries of $8,500 from 2023 (prior year). Pay repairs and maintenance expenses, $11,500. Purchase equipment for $6,500 cash. Pay $1,000 cash dividends to stockholders.. 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 $19,500. Depreciation for the year on the equipment is $3,500. Office supplies remaining on hand at the end of the year equal $1,200. 7. Prepare an adjusted trial balance. 8-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. Mc Mayt Check my work Set 3 Saved Help Save & 3. June 30 4. August 1 5. September 25 6. October 19 7. December 30 Required: Issue shares of common stock in exchange for $5,000 cash. Pay salaries of $8,500 from 2023 (prior year). Pay repairs and maintenance expenses, $11,500. Purchase equipment for $6,500 cash. Pay $1,000 cash dividends to stockholders. 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 $19,500. Depreciation for the year on the equipment is $3,500. Office supplies remaining on hand at the end of the year equal $1,200. 7. Prepare an adjusted trial balance. 8-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. Req 2 Req 4 Req 5 Req 7 Req Ba Req 8b Req 9 Req 1 and 3 and 6 and 10 Req 11 Prepare a post-closing trial balance.. C
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