part 5-8 of the same problem, not different problems

Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Part 5 of 8 Credits Debits $ 42,500 26,700 111,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,400 31,000 101,000 33,600 $181,000 $181,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $63,400. 2. February 25 Provide services to customers for cash, $75,800. 3. March 19 Collect on accounts receivable, $45,800. 4. April 30 Issue shares of common stock in exchange for $31,000 cash. 5. June 16 Purchase supplies on account, $12,300. 6. July 7 Pay on accounts payable, $11,400. 7. September 30 Pay salaries for employee work in the current year, $65,200. 8. November 22 Pay advertising for the current year, $22,600. 9. December 30 Pay $3,000 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,600 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,600 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,400. U..LIVUI UNICUM SlulelenILIUI ile yeu leu Deleuel Jl, 2021. JACKRABBIT RENTALS Income Statement For the Year Ended December 31, 2021 Part 5 of 8 Expenses: Total expenses 8-b. Prepare a classified balance sheet for the year ended December 31, 2021. JACKRABBIT RENTALS Balance Sheet December 31, 2021 Assets Liabilities Lia Total Current Assets Total Current Liabilities Total liabilities Stockholders' Equity Total Stockholder's Equity 0 Total Liabilities and Stockholders' Equity Total Assets 1. Janual Y 12 PIUVIUE SCIVILES LUCUS LUNI UI LLUUIIL, DUD,400. 2. February 25 Provide services to customers for cash, $75,800. 3. March 19 Collect on accounts receivable, $45,800. 4. April 30 Issue shares of common stock in exchange for $31,000 cash. 5. June 16 Purchase supplies on account, $12,300. 6. July 7 Pay on accounts payable, $11,400. 7. September 30 Pay salaries for employee work in the current year, $65,200. 8. November 22 Pay advertising for the current year, $22,600. 9. December 30 Pay $3,000 cash dividends to stockholders. Part 6 of 8 The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,600 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,600 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,400. 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list 1 Record the entry to close the revenue accounts. 2 Record the entry to close the expense accounts. 3 Record the entry to close the dividends account. Credit Note : = journal entry has been entered Record entry Clear entry View general journal at year-end amounted to $1,600 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,400 1. 3. 6. & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances Part 7 of 8 Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Supplies Land Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Salaries Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Interest Payable Notes Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Common Stock Retained Earnings Beg. Bal. Beg. Bal. End. Bal. End. Bal. Beg. Bal. Beg. Bal. End. Bal. End. Bal. Dividends Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Salaries Expense Advertising Expense Beg. Bal. Beg. Bal. End, Bal End. Bal Interest Expense Supplies Expense Beg Bal. Beg. Bal. End. Bal. End. Bal. 5. June 16 Purchase supplies on account, $12,300. 6. July 7 Pay on accounts payable, $11,400. 7. September 30 Pay salaries for employee work in the current year, $65,200. 8. November 22 Pay advertising for the current year, $22,600. 30 Pay $3,000 cash dividends to stockholders. Part 8 of 8 The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,600 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,600 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,400. 11. Prepare a post-closing trial balance. JACKRABBIT RENTALS Post-Closing Trial Balance December 31, 2021 Accounts Debit Credit Total 0 $ 0