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ASAP The general ledger of Zips Storage at January 1, 2021. includes the following account balances: 50:48 Credits Accounts Cash Accounts Receivable Prepaid Insurance Land
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The general ledger of Zips Storage at January 1, 2021. includes the following account balances: 50:48 Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $ 25,800 16,600 14,400 160,000 $ 7,988 7,000 155,000 46,900 $216,800 $216,800 The following is a summary of the transactions for the year 1. January 9 Provide storage services for cash, $146,100, and on account, $58,200. 2. February 12 Collect on accounts receivable, $52,700. 3. April 25 Receive cash in advance from customer's, $14,100 4. May 6 Purchase supplies on account, $11,600. 5. July 15 Pay property taxes, 59,700. 6. September 10 Pay on accounts payable, 512,600. 7. October 31 Pay salaries, $135,600 8. November 20 Issue shares of common stock in exchange for $39,000 cash. 9. December 30 Pay 54,600 cash dividends to stockholders. Insurance expired during the year is $8.200. Supplies remaining on hand at the end of the year equal $4,100. Provide services of $13,000 related to cash paid in advance by customers. Answer is not complete 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.) No Date General Journal Debit Credit 1 January 09 Cash 146,100 58,200 Accounts Receivable Service Revenue 204,300 2 February 12 Cash 52,700 Accounts Receivable O 52,700 3 April 25 14,100 Cash Deferred Revenue 14,100 4 May 06 11,600 > Supplies Accounts Payable 11,600 5 July 15 9,700 Property Tax Expense Cash 9,700 6 September 10 12,600 Accounts Payable Cash 12,600 7 October 31 Salaries Expense 135,600 8 November 20 Cash 39,000 > Common Stock 39,000 9 December 30 Dividends 4,000 > Cash 4,000 10 December 31 8,200 Insurance Expense Prepaid Insurance > 8,200 11 December 31 7,500 Supplies Expense Supplies OO 7,500 12 December 31 Deferred Revenue 13,000 Service Revenue 13,000 . 13 December 31 > 217,300 Service Revenue Retained Earnings 217,300 14 December 31 260,200 X Retained Earnings Salaries Expense Property Tax Expense Supplies Expense OOO 135,600 9,700 7,500 OOO 15 December 31 4,000 Retained Earnings Dividends 4,000 belo Requirement General General Journal Trial Balance Income Balance Sheet Ledger Statement The ending balance values from the General Ledger tab flows through to the Balance Sheet or post-closing balances will appear for each account, based on your selection. Post-closing Zips Storage Unadjusted Trial Balance Adjusted December 31, 2021 Post-closing Account Title Cash Accounts Receivable Supplies Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Insurance Expense Total $ ttt Step by Step Solution
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