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11:02 + Expert Q&A + The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash
11:02 + Expert Q&A + The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $18,500 Accounts Receivable 7,700 Supplies 3,700 Equipment 13,500 Accumulated Depreciation $4,400 Salaries Payable 6,400 Common Stock 23,500 Retained Earnings 9,100 Totals $43,400 $43,400 The following is a summary of the transactions for the year Provide services to customers, 1. March 12$57,000, of which $20,700 is on account. Collect on accounts receivable, 2. May 2 $17,700. 3.June anIssue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $6,400 from 2020 (prior year) 5. September 25 Pay repairs and maintenance expenses, $12,700. 6.October 19 Purchase equipment for $7,700 cash. 7.December 30 2o Pay $1,100 cash dividends to stockholders. find unadjusted Trial balance .. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $4,700. Office supplies remaining on hand at the end of the year equal $1,200. - Prepare an adjusted trial balance - Prepare the income statement for the year ended December 31, 2021. - Record closing entries. - Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. - Prepare a post-closing trial balance
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