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please help asap i am not sure what is incompleted The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:
please help asap i am not sure what is incompleted
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 3,600 8,600 2,600 18,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 4,400 2,400 3,400 0 14,000 8,600 $32,800 $32,800 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $11,000, and on account, $56,000. 2. March 13 Collect on accounts receivable, $44,000. 3. May 6 Issue shares of common stock in exchange for $10,000 cash. 4. June 30 Pay salaries for the current year, $31,200. 5. September 15 Pay utilities of $3,400 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $6,400. 7. December 30 Pay $1,200 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $4,400. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $6,400 paid in advance by customers, $5,200 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,800. 1., 3., 6 & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Cash X Answer is not complete. wwwwwwwwwwwww Accounts Receivable Beg. Bal. 8,600 1 56,000 44,000 2 Beg. Bal. 1 2 3 6 OOOO 3,600 11,000 44,000 10,000 6,400 31,2004 3,4005 1,200 7 End. Bal. 39,200 End. Bal. 20,600 Supplies 2,600 Equipment 18,000 Beg. Bal. Beg. Bal. 1,600 Adj 2. End. Bal 1,000 End. Bal. 18,000 Accumulated Depreciation 4,400 4,400 Adj 1. Accounts Payable 2,400 Beg. Bal. Beg. Bal. End. Bal. 8,800 End. Bal. 2,400 7,0 End. Bal. 8,800 End. Bal 2,400 Beg. Bal. Utilities Payable 3,400 3,400 7,800 Adj 4. Beg. Bal. Adj 3 Deferred Revenue 0 5,200 6,4006 85 End. Bal. 7,800 End. Bal. 1,200 Common Stock 14.000 Retained Earnings 8,600 Beg. Bal. Beg. Bal. 10,0003 End. Bal. 24,000 End. Bal. 8,600 Dividends Service Revenue Beg. Bal. 0 Beg. Bal. 0 7 1,200 67,0001 5,200 Adj 3. End. Bal. 1,200 End. Bal. 72,200 Salaries Expense Utilities Expense Bon Ral n Ron Ral Dividends Service Revenue 0 0 Beg. Bal. Beg. Bal. 7 1,200 67,000 1 5,200 Adj 3. End. Bal. 1,200 End. Bal. 72,200 Salaries Expense Utilities Expense Beg. Bal. 0 0 Beg. Bal. Adj 4. 4 31,200 7,800 End. Bal. 31,200 End. Bal. 7,800 Supplies Expense 0 Depreciation Expense 0 Beg. Bal. Adj 2. Beg. Bal. Oo 1,600 4,400 End. Bal. 1,600 End. Bal. 4,400 Problem 3-8B Part 9 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) X Answer is not complete. No Date General Journal Debit Credit 1 December 31 4,400 X Accumulated Depreciation x 4,400 2 December 31 Supplies Expense x 1,600 X Supplies x 1,600 3 December 31 Utilities Expense 7,800 Utilities Payable 7,800Step by Step Solution
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