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plesse help with the balance sheet please i will provide adjusting trial balance Required information The general ledger of Red Storm Cleaners at January 1,
plesse help with the balance sheet please i will provide adjusting trial balance
Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $13,500 Accounts Receivable 6,700 Supplies 2,700 Equipment 16,500 Accumulated Depreciation $ 5,600 Salaries Payable 8,100 Common Stock 18,500 Retained Earnings 7,200 Totals $39, 400 $39,400 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $47,000, of which $19,700 is on account. 2. May 2 Collect on accounts receivable, $16,700. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $8,100 from 2020 (prior year). 5. September 25 Pay repairs and maintdnance expenses, $11,700. 6. October 19 Purchase equipment for $6,700 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 7. Prepare an adjusted trial balance. RED STORM CLEANERS Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash $ Accounts Receivable 35,900 9,700 1,000 23,200 9,300 19,600 24,500 7,200 Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals 1,100 47,000 19,600 11,700 3,700 1,700 $ 107,600 $ 107,600 8-b. Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) Varded d RED STORM CLEANERS Balance Sheet December 31, 2021 Assets Liabilities Current Assets Current Liabilities Cash Os 35,900 Accounts Receivable 9,700 Supplies 2,700 Stockholders' Equity Total Current Assets 48,300 Common Stock Long-term assets Retained Earnings Equipment 23,200 Accumulated Depreciation (5.600) Total Stockholders' Equity Total Assets $ 65,000 Total Liabilities and Stockholders' Equity "Radto indicates respected no formations incorrect punten OOO 00 24,500 41,400 0 65.900 65.000 $ Step by Step Solution
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