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The general ledger of Zips Storage at January 1, 2021, Includes the following account balances: Credits Debits $ 25,900 16,700 14,600 161,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenge Common Stock Retained Earnings Totals $ 8,000 7.100 156,000 47,100 $218,200 $218,200 The following is a summary of the transactions for the year. 4. May 1. January 9 Provide storage services for cash, $147,100, and on account, $58,700. 2. February 12 Collect on accounts receivable, $52,800. 3. April 25 Receive cash in advance from customers, $14,200. 6 Purchase wupplies on account, $11,800. 5. July 15 Pay property taxes, $9,800. 6. September 10 Pay on accounts payable, $12,700. 7. October 31 Pay salaries, $136,600. 8. November 20 Taave shares of common stock in exchange for $40,000 cash. 9. December 30 Day $4,100 cash dividends to stockholders. Insurance expired during the year is $8,300. Supplies remaining on hand at the end of the year equal $4,200. Provide services of $13,100 related to cash paid in advance by customers. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 4. May 6 Purchase supplies on account, $11,800. 5. July 15 Pay property taxes, $9,800. 6. September 10 Pay on accounts payable, $12,700. 7. October 31 Pay salaries, $136,600. 8. November 20 Tasue whares of common stock in exchange for $40,000 cash. 9. December 30 Pay $4,100 cash dividends to stockholders. Insurance expired during the year is $8,300. Supplies remaining on hand at the end of the year equal $4,200. Provide services of $13,100 related to cash paid in advance by customers. Requirement General General Income Journal Ledger Trial Balance Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Zips Storage Income Statement For the Year Ended December 31, 2021 Revenues: Service Revenue 0 Total Revenues Expenses: Salaries Expense Insurance Exponse Supplies Expense Property Tax Expense 0 Total Expenses $ 0 4. May 6 Purchase supplies on account, $11,800. 5. July 15 Day property taxes, $9,800. 6. September 10 Pay on accounts payable, $12,700. 7. October 31 Pay salaries, $136,600. 8. November 20 Tonge shares of common stock in exchange for $40,000 cash. 9. December 30 Pay $4,100 cash dividends to stockholders. Insurance expired during the year is $8,300. Supplies remaining on hand at the end of the year equal $4,200. Provide services of $13,100 related to cash paid in advance by customers. General General Income Requirement Trial Balance Balance Sheet Journal Ledger Statement Balance Sheet The balance sheet is the accounting equation: Assets - Liabilities + Equity. Eacrasse ano nability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection Unadjusted Zips Storago Balance Sheet December 31, 2021 Assets Llabilities Current Assets: Current Liabilities: 0 Total Current Liabilities Stockholders' Equity 0 Total current assets Long-term Assets: 0 0 0 0 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 0 Total assets
