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help me out please The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: The following is a summary of
help me out please
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $17,000, and on account, $62,000. 2. March 13 Collect on accounts receivable, $50,000. 3. May 6 Issue shares of common stock in exchange for $11,000 cash. 4. June 30 Pay salaries for the current year, $32,400. 5. September 15 Pay utilities of $5,800 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,800. 7. December 30 Pay $2,400 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $6,800. Plumbing supplies remaining on hand at the end equal $1,100. Of the $8,800 paid in advance by customers, $6,400 of the work has been completed by the year. Accrued utilities at year-end amounted to $6,600. Accounts Recelvable Equipment Accounts Payable Required information Retained Earnings Service Revenue Bea. Bal. Utilities Expense Bea. Bal. Required information Utilitios Expense Depreciation Expense Step by Step Solution
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