I need the income statment, balance sheet, and the three journal entries solved at the end. I also attached the adjusted trial balance to help with solving these three things. Thanks.
I added in the other parts of the question that should show the adjustments. I need help with finding the income statement because it is not adding up correctly. Thank you.
Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ ZIPS STORAGE } \\ \hline \multicolumn{5}{|c|}{ Adjusted Trial Balance } \\ \hline \multicolumn{5}{|c|}{ December 31, 2024} \\ \hline Accounts & \multicolumn{2}{|c|}{ Debit } & \multicolumn{2}{|r|}{ Credit } \\ \hline Cash & $ & 119,800 & & \\ \hline Accounts Receivable & & 24,100 & & \\ \hline Prepaid Insurance & & 6,600 & & \\ \hline Supplies & & 4,500 & & \\ \hline Land & & 164,000 & & \\ \hline Accounts Payable & & & $ & 7,700 \\ \hline Deferred Revenue & & & & 8,500 \\ \hline Common Stock & & & & 202,000 \\ \hline Retained Earnings & & & 7 & 47,70g \\ \hline Dividends & & 4,400 & & \\ \hline Service Revenue & & & & 223,700 \\ \hline Property Tax Expense & & 10,100 & & \\ \hline Salaries Expense & & 139,600 & & \\ \hline Insurance Expense & & 8,600 & & \\ \hline Supplies Expense & & 7,900 & & \\ \hline Total & $ & 489,600 & $ & 489,600 \\ \hline \end{tabular} Required information Required information [The following information applies to the questions displayed below] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. Juty 15 6. Septerter 10 7. Dctober 31 8. November 20 Provide storage services for cash, $150,180, and on account, $60,200. Collect on accounts receivable, $53,100. Receive cash in advance from customers, $14,5e. Purchase supplies on account, $12,400. Pay property taxes, $10,120. Pay on accounts payabte, $13,000. Pay salaries, $139,603. Issue shares of conmon steck in exchange for $43,000 cash. pay 54,400 cash dividends to stockholders. 7. Prepare an adjusted trial balance. 8-a. Prepare the income statement for the year ended December 31, 2024 Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. 5. Record adjusting entries. Insurance expired during the year is $8,600. Supplies remaining on hand at the end of the year equal $4,500. Provide services of $13,400 related to cash paid in advance by customers. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Required information Required information \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ ZIPS STORAGE } \\ \hline \multicolumn{5}{|c|}{ Unadjusted Trial Balance } \\ \hline \multicolumn{5}{|c|}{ December 31, 2024} \\ \hline Accounts & \multicolumn{2}{|c|}{ Debit } & \multicolumn{2}{|r|}{ Credit } \\ \hline Cash & $ & 119,800 & & \\ \hline Accounts Receivable & & 24,100 & & \\ \hline Prepaid Insurance & & 15,200 & & \\ \hline Supplies & & 12,400 & & \\ \hline Land & & 164,000 & & \\ \hline Accounts Payable & & & $ & 7,700 \\ \hline Deferred Revenue & 7 & & & 21,900 \\ \hline Common Stock & 7 & & & 202,000 \\ \hline Retained Earnings & & & & 47,700 \\ \hline Dividends & & 4,400 & & \\ \hline Service Revenue & & & & 210,300 \\ \hline Property Tax Expense & & 10,100 & & \\ \hline Salaries Expense & & 139,600 & & \\ \hline \multicolumn{5}{|l|}{ Insurance Expense } \\ \hline \multicolumn{5}{|l|}{ Supplies Expense } \\ \hline Totals & $ & 489,600 & $ & 489,600 \\ \hline \end{tabular}