Hello, if anyone can help, please explain how you got the numbers you get. Like if you add/subtract from somewhere, please tell me how you knew what numbers to add and subtract and where you got it from. Thank you The red Xs are wrong answers
repare the classified balance sheet for the year ended December 31, 2024. (Amounts to be deducted should be indic sign.) Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Complete this question by entering your answers in the tabs below. Prepare an unadjusted trial balance. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required field.) 1 Record the entry to close the revenue accounts. 2 Record the entry to close the expense accounts. 3 Record the entry to close the dividends account. Note : = journal entry has been entered Provide services to customers, $60,000, of which $21,000 is on account. Record the collection on accounts receivable, $18,000. Issue shares of common stock in exchange for $6,000 cash. Pay salaries of \$7,500 from 2023 (prior year). Pay repairs and maintenance expenses, $13,000. Purchase equipment for $8,000 cash. Prepare an adjusted trial balance. Record the adjusting entry for salaries. Accrued salaries at year-end amounted to $19,600. Record the adjusting entry for depreciation, $5,000. Office supplies remaining on hand at the end of the year equal $1,200. Record the adjusting entry. Complete this question by entering your answers in the tabs below. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $5,000. Office supplies remaining on hand at the end of the year equal $1,200. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) The general ledger of Red Storm Cleaners at January 1, 2024, includes the following account balances: 8.33 points References The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. 2. May 2 Collect on accounts receivable, $18,000. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $7,500 from 2023 (prior year). 5. September 25 Pay repairs and maintenance expenses, $13,000. 6. October 19 Purchase equipment for $8,000 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. Required: 2. Record each of the summary transactions listed above. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $5,000. Office supplies remaining on hand at the end of the year equal $1,200. 7. Prepare an adjusted trial balance. 8-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. 9. Record closing entries. 1., 3., 6., \& 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. 11. Prepare a post-closing trial balance. Prepare a post-closing trial balance. Prepare the income statement for the year ended December 31, 2024
