GL2-14 Complete the full accounting cycle The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: points Credits Debits $ 4,100 9,100 3,100 28,000 eBook Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,400 4,400 5,400 Print 19,000 9,100 $ 44,300 $ 44,300 References The following is a summary of the transactions for the year: 24 Provide plumbing services for cash, $16,000, and on account, $61,000. 2. March 13 Collect on accounts receivable, $49,000. 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay salaries for the current year, $32,200. 5. September 15 Pay utilities of $5,400 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,400. 7. December 30 Pay $2,200 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued utilities at year- end amounted to $6,800. January 24 cash 76,000T 61,000 Accounts Receivable Service Revenue 77,000 12 points March 13 49,000 Cash Accounts Receivable 49,000 3 May 06 12,000 Cash Common Stock eBook 12,000 June 30 32,200 Print Salaries Expense Cash 32,200 September 15 References Cash Utilities Payable 6 November 24 8,400 Cash Deferred Revenue 8,400 7 December 30 2,200 Dividends Cash 2.200 2 8 December 31 Depreciation Expense Accumulated Depreciation 9 December 31 Supplies Expense Supplies 10 December 31 Deferred Revenue Service Revenue 11 December 31 No Transaction Recorded LIITUNUTY NuJURUTY VI LILLIURUULLIURIDIUI LILY LUI. 1. January 24 Provide plumbing services for cash, S16,000, and on account, 561,000. 2. March 13 Collect on accounts receivable, $49,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay salaries for the current year, $32,200. 5. September 15 Pay utilities of $5,400 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,400. 7. December 30 Pay $2,200 cash dividends to stockholders. points The following information is available for the adjusting entries. eBook Depreciation for the year on the machinery is $6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued utilities at year- end amounted to $6,800. Print Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet References 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.) View transaction list Journal entry worksheet Record the adjusting entry for depreciation. Note: Enter debits before credits. Debit Credit Date December 31 General Journal Depreciation Expense Accumulated Depreciation Record entry Clear entry View general journal u J ury VI IC 1. January 24 Provide plumbing services for cash, S16,000, and on account, S61,000. 2. March 13 Collect on accounts receivable, $49,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash 4. June 30 Pay salaries for the current year, $32,200. 5. September 15 Pay utilities of $5,400 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,400. 7. December 30 Pay $2,200 cash dividends to stockholders. points The following information is available for the adjusting entries. eBook Depreciation for the year on the machinery is $6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued utilities at year- end amounted to $6,800. Print Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet References 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.) View transaction list Journal entry worksheet Record the adjusting entry for supplies. Note: Enter debits before credits. Debit Credit Date December 31 General Journal Supplies Expense Supplies Record entry Clear entry View general journal JURIU VILLIE 1. January 24 Provide plumbing services for cash, S16,000, and on account, $61,000. 2. March 13 Collect on accounts receivable, $49,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay salaries for the current year, $32,200. 5. September 15 Pay utilities of $5,400 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,400. 7. December 30 Pay $2,200 cash dividends to stockholders. points The following information is available for the adjusting entries. eBook Depreciation for the year on the machinery is $6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued utilities at year- end amounted to $6,800. Print Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet References 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.) View transaction list Journal entry worksheet ..... 14 Record the adjusting entry for revenue earned. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Note: Enter debits before credits. Debit Credit Date December 31 General Journal Deferred Revenue Service Revenue Record entry Clear entry View general journal TIILIVUYTY Nu RETURY VILL LIVINULLIUTIU IVI LITLU. 1. January 24 Provide plumbing services for cash, S16,000, and on account, S61,000. 2. March 13 Collect on accounts receivable, $49,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay salaries for the current year, $32,200. 5. September 15 Pay utilities of $5,400 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,400. 7. December 30 Pay $2,200 cash dividends to stockholders. points The following information is available for the adjusting entries. eBook Depreciation for the year on the machinery is $6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued utilities at year- end amounted to $6,800. Print Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet References 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.) View transaction list Journal entry worksheet The following information is available for the adjusting entries. Depreciation for the year on the machinery is $6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued utilities at year- end amounted to $6,800. points Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet eBook 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.) Print View transaction list References Journal entry worksheet