13 The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: 10 Accounts Cash Accounts Receivable points Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits Credits $10,500 6,100 2,100 19,500 $ 6,800 9,300 15,500 6,600 $38,200 $38,200 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $41,000, of which $19,100 is on account. 2. May 3. June 4. August 2 Collect on accounts receivable, $16,100. 30 Issue shares of common stock in exchange for $6,000 cash. 1 Pay salaries of $9,300 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,100. 6. October 19 Purchase equipment for $6,100 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $15,900. Depreciation for the year on the equipment is $3,100. Office supplies remaining on hand at the end of the year equal $1,000. Answer is not complete. General Requirement 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.) Return to que 7 December 30 Dividends Cash 8 December 31 Salaries Expense Salaries Payable 9 December 31 Depreciation Expense Accumulated Depreciation 10 December 31 Supplies Cash 11 December 31 No Journal Entry Required 12 December 31 No Journal Entry Required 13 December 31 No Journal Entry Required < Requirement General Ledger 1,100 1,100 15,900 15,900 3,100 3,100 1,000 1,000 Answer is not complete. General Requirement Journal General Ledger Trial Balance Income 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. Adjusted Red Storm Cleaners Income Statement For the Year Ended December 31, 2021 Revenues: Service Revenue Total Revenues Expenses: Supplies Depreciation Expense Repairs and Maintenance Expense Salaries Expense Total Expenses Net Income 4444 41,000 3,100 3,100 11,100 15,900 41,000 33,200 $ 7,800 Answer is not complete. General General Requirement Journal Trial Balance Ledger Income Statement Balance Sheet The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the 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: Equipment Accumulated Depreciation Total Assets 4044 Red Storm Cleaners Balance Sheet December 31, 2021 Liabilities Current Liabilities: 25,900 Salaries Payable 3,100 9,100 Total Current Liabilities Stockholders' Equity 15,900 15,900 Common Stock 38,100 Retained Earnings 44 21,500 13,300 0 25,600 0 (9,900) $ 53,800 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 34,800 $ 50,700 < Income Statement Balance Sheet >