I am missing something-It says that it's not complete and for the one that says 2900 (that's wrong) I tried it on the other side but it said it was still wrong.
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 24,600 15,400 12,000 148,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,700 5,800 143,000 44,500 $200,000 $200,000 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $134, 100, and on account, $52,200. 2. February 12 Collect on accounts receivable, $51,500. 3. April 25 Receive cash in advance from customers, $12,900. 4. May 6 Purchase supplies on account, $9,200. 5. July 15 Pay property taxes, $8,500. 6. September 10 Pay on accounts payable, $11,400. 7. October 31 Pay salaries, $123,600. 8. November 20 Issue shares of common stock in exchange for $27,000 cash. 9. December 30 Pay $2,800 cash dividends to stockholders. Insurance expired during the year is $7,000. Supplies remaining on hand at the end of the year equal $2,900. Provide services of $11,800 related to cash paid in advance by customers. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 9). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 10-12). 3. Review the adjusted 'Trial Balance' as of December 31, 2021. 4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 13-15). No Date General Journal Credit 1 January 09 Accounts Receivable Cash Service Revenue Debit 52,200 134.100 186,300 2 February 12 Cash 51,500 Accounts Receivable 51,500 April 25 12,900 Cash Deferred Revenue 12.900 4 May 06 9,200 Supplies Accounts Payable 9,200 July 15 8,500 Property Tax Expense Cash 8,500 6 September 10 Accounts Payable 11,400 Cash 11,400 7 October 31 Salaries Expense 123,600 >> Cash 123,600 8 November 20 27,000 Cash Common Stock 27,000 9 December 30 2,800 Dividends Cash 2,800 10 December 31 7,000 Insurance Expense Prepaid Insurance 7,000 11 December 31 2,900 Supplies Expense Supplies >> 2.900 12 December 31 11,800 Deferred Revenue Service Revenue 11,800 13 December 31 No Transaction Recorded 14 December 31 No Transaction Recorded Adjusted Zips Storage Income Statement For the Year Ended December 31, 2021 Revenues: Service Revenue 198, 100 198, 100 Total Revenues Expenses: Insurance Expense Property Tax Expense Salaries Expense Supplies Expense 7,000 8,500 123,600 Total expenses 139,100 $ 59,000 Assets 6,900 Current Assets: Cash Accounts Receivable Supplies Prepaid Insurance Zips Storage Balance Sheet December 31, 2021 Liabilities Current Liabilities: 103,800 Deferred Revenue 16,100 12,100 Accounts Payable 5,000 Total Current Liabilities Stockholders' Equity 137,000 Common Stock Retained Earnings 148,000 4,500 11,400 Total Current Assets Long-term assets: Land 170,000 100,700 0 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 270,700 282, 100 Total assets $ 285,000 S
