Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare an unadjusted trial balance, adjusted trial balance, and income statement The general ledger of Pipers Plumbing at January1 2018,includes the foltlowing eccount balances $

image text in transcribed

Prepare an unadjusted trial balance, adjusted trial balance, and income statement

image text in transcribed

image text in transcribed

image text in transcribed

The general ledger of Pipers Plumbing at January1 2018,includes the foltlowing eccount balances $ 7.200 Utilities Payable Common Stock Retained Eamings 9.300 $48.900 548.900 The following Is a summary of the transactions for the year a. January 24 Provide plumbing services for cash, $18,000. and on account, $63,000. b. March 13 Collect on accounts recelvable, $51,000 c. May 6lssue shares of common stock in exchange for $10,000 cesh d. June 30Pay salarles for the current year, $32,600 e September 15 Pay for utilties expenses, $12.600, of which $6,200 represents costs for 2017 f November 24 Recerve cash in advance from customers, $9,200 g December 30 Pay $2.600 cesh dividendis to stockholders. is $7,200 Plumbing supplies remaining on hand at the end of the year equal $1.000. Of the $9.200 paid in advance by customers, $6,600 of the work has been completed by the end of the 10.00 points 4. Prepare an unadjusted trial balance. PIPERS PLUMBING Unadjusted Trial Balance December 31, 2018 Accounts Cash Accounts receivable Supplies Equipment Accumulated depreciation Accounts payable Utilities payable Deferred revenue Common stock Debit Credit Dividends Service revenue Selaries expense Utilities expense Supplies expense Depreciation expense Totals 7. Prepare an adjusted trial balance PIPERS PLUMBING Adjusted Trial Balance December 31, 2018 Accounts Cash Accounts receivable Supplies Equipment Accumulated depreciation Accounts payable Utilities payable Deferred revenue Common stock Debit Credit Dividends Service revenue Salaries expense Utilities expense Supplies expense Depreciation expense Totals 8-a. Prepare an income statement for the year ended December 31, 2018 PIPERS PLUMBING Income Statement For the Year Ended December 31, 2018 Expenses: Total expenses

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Which of the following is considered Firmware

Answered: 1 week ago

Question

Write a program to check an input year is leap or not.

Answered: 1 week ago

Question

Write short notes on departmentation.

Answered: 1 week ago

Question

What are the factors affecting organisation structure?

Answered: 1 week ago

Question

What are the features of Management?

Answered: 1 week ago

Question

Briefly explain the advantages of 'Management by Objectives'

Answered: 1 week ago