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Help please!!!! The general ledger of Blue Highway Cleaners at January 1, 2024, includes the following account balances: The following is a summary of the
Help please!!!!
The general ledger of Blue Highway Cleaners at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. March 12 Provide services to custoners, $50,600, of which $20,0e0 is on account. 2. Hay 2 collect on accounts receivable, $17,000. 3. June 30 Issue shares of comon stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,000 from 2023 (prior year). 5. Septenber 25 Pay repairs and maintenance expenses, $12,000. 6. October 19 Purchase equipment for $7,000 cash. 7. Deceaber 30 Pay $1,080 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 $19,500. Depreciation for the year on the equipment is $4,000 Office supplies remaining on hand at the end of the year equal $1,000. 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. Complete this question by entering your answers in the tabs below. The general ledger of Blue Highway Cleaners at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. March 12 Provide services to custoners, $50,600, of which $20,0e0 is on account. 2. Hay 2 collect on accounts receivable, $17,000. 3. June 30 Issue shares of comon stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $5,000 from 2023 (prior year). 5. Septenber 25 Pay repairs and maintenance expenses, $12,000. 6. October 19 Purchase equipment for $7,000 cash. 7. Deceaber 30 Pay $1,080 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 $19,500. Depreciation for the year on the equipment is $4,000 Office supplies remaining on hand at the end of the year equal $1,000. 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. Complete this question by entering your answers in the tabs below Step by Step Solution
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