The general ledger of Plastic Plumbing at January 1,2024 , includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $15,500, and on account, $60,500. 2. Mareh 13 Collect on accounts receivable, $48,500. 3. May 6 Issue ehares of common stock in exchange tor $11,000cash. 4. June 30 Pay salaries for the current year, $32,100. 5. September 15 Pay utilities of $5,200 from 2023 (prior year). 6. Sovember 24 Receive cash in advance from customers, $8,200. 7. December 30 Pay $2,100 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 $6,200. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $8,200 paid in advance by customers, $6,100 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,900. 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. Prepare an adjusted trial balance. Prepare the classified balance sheet for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a min sign.) Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the account field.) The general ledger of Plastic Plumbing at January 1,2024 , includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $15,500, and on account, $60,500. 2. Mareh 13 Collect on accounts receivable, $48,500. 3. May 6 Issue ehares of common stock in exchange tor $11,000cash. 4. June 30 Pay salaries for the current year, $32,100. 5. September 15 Pay utilities of $5,200 from 2023 (prior year). 6. Sovember 24 Receive cash in advance from customers, $8,200. 7. December 30 Pay $2,100 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 $6,200. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $8,200 paid in advance by customers, $6,100 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,900. 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. Prepare an adjusted trial balance. Prepare the classified balance sheet for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a min sign.) Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the account field.)
