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prepare balance sheet: The general ledger of Pipers Plumbing at January 1, 2015, includes the following account balances: Accounts Cash Accounts receivable Supplies Equipmemt Accumulated
prepare balance sheet:
The general ledger of Pipers Plumbing at January 1, 2015, includes the following account balances: Accounts Cash Accounts receivable Supplies Equipmemt Accumulated depreciation Accounts payable Utilities payable Unearned revenue Common stock Retained earnings Debits Credits $ 3,900 8,900 2,900 24,000 $ 5,600 3,600 4,600 0 7,000 8,900 Totals $39,700 $39,700 The following is a summary of the transactions for the year: a. Provide plumbing services for cash, $14,000, and on account, $59,000. b. Collect on accounts receivable, $47000. C. Issue shares of common stock in exchange for $10,000 cash. d. Pay salaries for the current year, $31,800 e. Pay for utilities expenses, $11,800, of which $4,600 represents costs for 2014 f. Receive cash in advance from customers, $7,600 g. Pay $1,800 cash dividends to stockholdersStep by Step Solution
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