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*I ONLY NEED THE LAST 3 DONE* (closing entries, T-accounts, and post-closing trial balance) The general ledger of Copper Plumbing at January 1, 2024, includes

*I ONLY NEED THE LAST 3 DONE* (closing entries, T-accounts, and post-closing trial balance)

The general ledger of Copper Plumbing at January 1, 2024, includes the following account balances:

Accounts

Debits

Credits

Cash

$3,550

Accounts Receivable

8,550

Supplies

2,550

Equipment

17,000

Accumulated Depreciation

$4,200

Accounts Payable

2,200

Utilities Payable

3,200

Deferred Revenue

0

Common Stock

13,500

Retained Earnings

8,550

Totals

$31,650

$31,650

The following is a summary of the transactions for the year:

1. January 24

Provide plumbing services for cash, $10,500, and on account, $55,500.

2. March 13

Collect on accounts receivable, $43,500.

3. May 6

Issue shares of common stock in exchange for $11,000 cash.

4. June 30

Pay salaries for the current year, $31,100.

5. September 15

Pay utilities of $3,200 from 2023 (prior year).

6. November 24

Receive cash in advance from customers, $6,200.

7. December 30

Pay $1,100 cash dividends to stockholders.

Required:

2. Record each of the summary transactions listed above.

4. Prepare an unadjusted trial balance.

5. Record adjusting entries. Depreciation for the year on the machinery is $4,200. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $6,200 paid in advance by customers, $5,100 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,900.

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.

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Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. 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 dividends account. Note: Enter debits before credits. Prepare a post-closing trial balance. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. 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 dividends account. Note: Enter debits before credits. Prepare a post-closing trial balance

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