Chapter 3 Homework A Saved 10 Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Part 5 of 7 Credits Debits $15,000 7,000 3,000 10,000 0.66 points Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Skipped $ 3,000 5,000 20,000 7,000 $ 35,000 $35,000 cBook The following is a summary of the transactions for the year: Print 1. March 12 Provide services to customers, $50,000, of which $20,000 is on account. 2. May 2 Collect on accounts receivable, $17,000. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,000 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,000. 6. October 19 Purchase equipment for $7,000 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. References 8-a. Prepare the income statement for the year ended December 31, 2021. RED STORM CLEANERS Income Statement For the Year Ended December 31, 2021 CARRAR Chapter 3 Homework i Saved 10 The following is a summary of the transactions for the year: Part 5 of 7 1. March 12 Provide services to customers, $50,000, of which $20,000 is on account. 2. May 2 Collect on accounts receivable, $17,000. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,000 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,000. 6. October 19 Purchase equipment for $7,000 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. 0.66 points Skipped 8-a. Prepare the income statement for the year ended December 31, 2021. eBook RED STORM CLEANERS Income Statement For the Year Ended December 31, 2021 Print References Expenses: Total expenses Chapter 3 Homework A Saved 10 Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Part 5 of 7 Credits Debits $15,000 7,000 3,000 10,000 0.66 points Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Skipped $ 3,000 5,000 20,000 7,000 $ 35,000 $35,000 cBook The following is a summary of the transactions for the year: Print 1. March 12 Provide services to customers, $50,000, of which $20,000 is on account. 2. May 2 Collect on accounts receivable, $17,000. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,000 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,000. 6. October 19 Purchase equipment for $7,000 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. References 8-a. Prepare the income statement for the year ended December 31, 2021. RED STORM CLEANERS Income Statement For the Year Ended December 31, 2021 CARRAR Chapter 3 Homework i Saved 10 The following is a summary of the transactions for the year: Part 5 of 7 1. March 12 Provide services to customers, $50,000, of which $20,000 is on account. 2. May 2 Collect on accounts receivable, $17,000. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,000 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,000. 6. October 19 Purchase equipment for $7,000 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. 0.66 points Skipped 8-a. Prepare the income statement for the year ended December 31, 2021. eBook RED STORM CLEANERS Income Statement For the Year Ended December 31, 2021 Print References Expenses: Total expenses
