Problem 3-9 Algo Complete the full accounting cycle
Journal entry worksheet Supplies remaining on hand at the end of the year equal $3,800. Record the adjusting entry. Note: Enter debits before credits. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Adjusted Trial Balance } \\ \hline \multicolumn{2}{|c|}{ Accounts } \\ \hline Cash & December 31, 2024 \\ \hline Accounts Receivable & & \\ \hline Prepaid Insurance & & \\ \hline Supplies & & \\ \hline Land & & \\ \hline Accounts Payable & & \\ \hline Deferred Revenue & & \\ \hline Common Stock & & \\ \hline Retained Earnings & & \\ \hline Dividends & & \\ \hline Service Revenue & & \\ \hline Property Tax Expense & & \\ \hline Salaries Expense & & \\ \hline Insurance Expense & & \\ \hline Supplies Expense & & \\ \hline Total & & \\ \hline \end{tabular} The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Record the adjusting entry for insurance expired during the year of $7,900. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. ZIPS STORAGE Balance Sheet December 31, 2024 Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits benore credits. 11. Prepare a post-closing trial balance. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Required: 2. Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Insurance expired during the year is $7,900. Supplies remaining on hand at the end of the year equal $3,800. Provide services of $12,700 related to cash paid in advance by customers, (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 8-a. Prepare the income statement for the year ended December 31, 2024. Provide services of $12,700 related to cash paid in advance by customers. Record the adjusting entry. Note: Enter debits before credits. LITS DIUTAGE Post-Closing Trial Balance December 31, 2024 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $143,100, and on account, $56,700. Collect on accounts receivable, $52,400. Receive cash in advance from customers, $13,800. Purchase supplies on account, $11,000. Pay property taxes, $9,400. Pay on accounts dayable, $12,300. Pay salaries, $132,600. Issue shares of common stock in exchange for $36,000 cash. Pay $3,700 cash dividends to stockholders. Journai entry worksneet Supplies remaining on hand at the end of the year equal $3,800. Record the adjusting entry. Note: Enter debits before credits. 11. Prepare a post-closing trial balance. Journal entry worksneet Record the adjusting entry for insurance expired during the year of $7,900. Note: Enter debits before credits. Provide services of $12,700 related to cash paid in advance by customers. Record the adjusting entry. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. Record the entry to close the expense accounts. Note: Enter debits before credits. Problem 3-9A (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: 7. Prepare an adjusted trial balance. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits
