Complete the full accounting cycle

Required information Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Accounts Debits Cash $ 3,700 Accounts 8,700 Receivable Supplies 2,700 Equipment 20,000 Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 35,100 $ 4,800 2,800 3,800 0 15,000 8,700 $35, 100 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $12,000, and on account, $57,000. 2. March 13 Collect on accounts receivable, $45,000 3. May 6 Issue shares of common stock in exchange for $11,000 cash. 4. June 30 Pay salaries for the current year, $31,400. 5. September 15 Pay utilities of $3,800 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $6,800. 7. December 30 Pay $1,400 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $4,800. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $6,800 paid in advance by customers, $5,400 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,600. Problem 3-8B Part 4 4. Prepare an unadjusted trial balance. Credit PIPERS PLUMBING Unadjusted Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense Totals | $ 0 $ Problem 3-8B Part 7 7. Prepare an adjusted trial balance. Credit PIPERS PLUMBING Adjusted Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense Totals $ 0 $ Problem 3-8B Part 8 8-a. Prepare an income statement for the year ended December 31, 2021. PIPERS PLUMBING Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses 8-b. Prepare a classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) PIPERS PLUMBING Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total current assets Long-term Assets: Total Current Liabilities Stockholder's Equity Total Stockholder's Equity 0 Tot Total Liabilities and Stockholders' Equity Total Assets $ Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Supplies Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Accumulated Depreciation Beg. Bal. Beg. Bal. End. Bal. End. Bal. Utilities Payable Deferred Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Common Stock Retained Earnings Beg. Bal. Beg. Bal. End. Bal. End. Bal. Dividends Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Salaries Expense Utilities Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Supplies Expense Depreciation Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Problem 3-8B Part 11 11. Prepare a post-closing trial balance. Credit PIPERS PLUMBING Post-Closing Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense Total ol $ 0