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GL2-11 Complete the accounting cycle On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable
GL2-11 Complete the accounting cycle On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 24,900 6,300 4,200 61, Bee $ 4,300 76, eee 16,1ee $96,480 $ 96,400 During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, 59,380 ($775/month). January 9 Purchase additional supplies on account, $4,600. January 13 Provide services to customers on account, $26,600. January 17 Receive cash in advance from customers for services to be provided in the future, $4,800. January 2e Pay cash for salaries, $12,600. January 22 Receive cash on accounts receivable, $25,209. January 29 Pay cash on accounts payable, $5,100. The following Information is available on January 31. Rent for the month of January has expired. Supplies remaining at the end of January total $3,900. By the end of January, $4,025 of services has been provided to customers who paid in advance on January 17, Unpaid salaries at the end of January are $5,030. Unadjusted Dates: Jan 01 to: Jan 29 General Ledger Account Cash Accounts Receivable Debit Credit No. Debit Credit No. Date Jan 01 Balance 24.900 Date Jan 01 Balance 6.300 Supplies Land No. Date Debit Credit No. Date Debit Credit Balance Balance 4.200 Jan 01 Jan 01 81.000 Common Stock Accounts Payable Debit Credit No. Date No. Date Debit Credit Balance 4.300 Balance 70.000 Jan 01 Jan 01 Retained Earnings Debit Credit No. Date Jan 01 Balance 10.100 General Journal Trial Balance >
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