2 GL2-14 Complete the full accounting cycle Debits $4,250 9,250 3,250 The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Supplies Credits Equipment 31,000 Book Accumulated Depreciation $ 7,000 Accounts Payable 5,000 Utilities Payable 6,000 Deferred Revenue Print Common Stock Retained Earnings Totals 20,500 9,250 $47,750 $47,750 trences The following is a summary of the transactions for the year: 1. January 2. March 3. May 24 Provide plumbing services for cash, $17,500, and on account, $62,500. 13 Collect on accounts receivable, $50,500. 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay salaries for the current year, $32,500. 5. September 15 Pay utilities of $6,000 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $9,000. 7. December 30 Pay $2,500 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $7,000. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $9,000 paid in advance by customers, $6,500 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,500. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Requirement General 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. Unadjusted Revenues: Total Revenues Expenses: Total expenses Pipers Plumbing Income Statement For the Year Ended December 31, 2021 Requirement General Journal General Ledger Trial Balance 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. Unadjusted Pipers Plumbing Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Assets Long-term Assets: Total Assets Total Current Liabilities Stockholder's Equity Total Stockholder's Equity Total Liabilities and Stockholders' Equity Balance Sheet > < Income Statement