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Hey i need help with the General Journal 11-14. and the Income Statment, and the Balance Sheet. Thank you! The general ledger of Pipers Plumbing
Hey i need help with the General Journal 11-14. and the Income Statment, and the Balance Sheet. Thank you!
The general ledger of Pipers Plumbing at January 1, 2021. Includes the following account balances: Credits bints Debits $ 3,500 8.500 2,500 16,000 eBook Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals Print 1 $ 4,000 2,000 3,000 0 13,000 8,500 $30,500 References $30,500 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $10,000, and on account, $55.000. 2 March 13 Collect on accounts receivable, $43,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Paysalaries for the current year. $31,000. 5. September 15 Pay utilities of $3,000 from 2020 prior year). 6. November 24 Receive cash in advance from customers, $6,000. 1. December 30 Pay $1,000 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $4,000. Plumbing supplies remaining on hand at the end of the year equal $1.200. or the $6,000 paid in advance by customers, $5,000 of the work has been completed by the end of the year. Accrued utilities ot year: end amounted to $8,000. Requirement Gerjeral Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No journal entry re account field.) View transaction list View journal entry worksheet No General Journal Debit Credit Date January 24 1 Cash Accounts Receivable Service Revenue 10,000 55,000 65,000 2 March 13 43,000 Cash Accounts Receivable 43,000 3 May 06 12,000 Cash Common Stock 12,000 4 June 30 31,000 Salaries Expense Cash 31,000 5 September 15 Utilities Payable Utilities Expense 3,000 8,000 11,000 Cash 6 November 24 Cash 6,000 6,000 Deferred Revenue 7 December 30 Dividends 1,000 1,000 Cash 8 December 31 4,000 Depreciation Expense Accumulated Depreciation 4,000 9 December 31 1,300 Supplies Expense Supplies 1,300 10 December 31 5,000 Deferred Revenue Service Revenue 5,000 11 December 31 8,000 8,000 Requirement General Ledger > Journal entry worksheet Record the adjusting entry for accrued utilities. Accrued Stilities at year-end amounted to $8,000. Note: Enter debits before credits. General Journal Date December 31 Debit Credit 8,000 8,000 Record entry Clear entry View general journal Journal entry worksheet Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection Adjusted General Ledger Account Cash Accounts Receivablo Debit Credit No. Debit Credit Date January 01 January 24 March 13 Balance 8,500 63,500 20,500 55,000 10,000 43,000 12,000 1 2 No. Date January 01 1 January 24 2 March 13 3 May 06 4 June 30 5 September 15 6 November 24 7 December 30 43,000 Balance 3,500 13,500 56,500 68,500 37,500 26,500 32,500 31,500 31,000 11,000 6,000 1.000 Check my WUL Supplies Debit Equipment Debit Credit No. Credit No. Date January 01 9 December 31 Balance 2,500 1,200 Date January 01 Balance 16,000 Book Accumulated Depreciation No. Date Debit Credit January 01 8 December 31 4,000 No. Accounts Payable Debit Credit Balance 4,000 8,000 Date January 01 Balance 2.000 Print erences Deferred Revenue Utilities Payable Debit Credit Debit Credit No. Date January 01 5 September 15 Balance 3,000 0 No. Date January 01 6 November 24 10 December 31 Balance 0 6,000 1,000 3,000 6,000 5,000 Common Stock Retained Earnings No. Debit Credit No. Debit Credit Date January 01 May 06 Balance 13,000 25,000 Date January 01 Balance 8,500 3 12,000 Dividends Service Revenue Debit Credit Debit Credit Balance No. Date January 01 7 December 30 Balance 0 1,000 0 No. Date January 01 1 January 24 10 December 31 1,000 65,000 5.000 65,000 70,000 Depreciation Expense Debit Credit Supplies Expense Debit Credit Balance Balance No. Date January 01 8 December 31 0 No. Date January 01 9 December 31 4,000 4,000 1,300 1,300 Utilities Expense Salaries Expense Debit Credit No. Debit Credit Balance Date January 01 June 30 Balance 0 31,000 0 4 31,000 No. Date January 01 5 September 15 Trial Balance > 8,000 8,000 General Journal General Ledger Trial Balance Requirement Balance Sheet Income Statement Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or will appear for each account, based on your selection. Adjusted ok Pipers Plumbing Income Statement For the Year Ended December 31, 2021 ht nces Revenues: Total Revenues 0 # Expenses: Total expenses 0 $ 0 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately ont balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted Pipers Plumbing Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: nces 0 Total Current Liabilities Stockholder's Equity 0 0 Total Current Assets Long-term Assets OO 0 0 0 Total Stockholder's Equity Total Liabilities and Stockholders' Equity $ Total Assets s 0 Step by Step Solution
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