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need help with the income statement part The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Accounts Cash
need help with the income statement part
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Debits $ 25,400 16,200 13,600 156,000 $ 7,500 6,600 151,000 46,100 $211,200 Totals $211,200 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $142,100, and on account, $56,200. 2. February 12 Collect on accounts receivable, $52,300. 3. April 25 Receive cash in advance from customers, $13,700. 4. May 6 Purchase supplies on account, $10,800. 5. July 15 Pay property taxes, $9,300. 6. September 10 Pay on accounts payable, $12,200. 7. October 31 Pay salaries, $131,600. 8. November 20 Issue shares of common stock in exchange for $35,000 cash. 9. December 30 Pay $3,600 cash dividends to stockholders. Insurance expired during the year is $7,800. Supplies remaining on hand at the end of the year equal $3,700. Provide services of $12,600 related to cash paid in advance by customers. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Post-closing Zips Storage Income Statement For the Year Ended December 31, 2021 Revenues: Total Revenues Expenses: Total Expenses Net IncomeStep by Step Solution
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