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Problem 3-9A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) The general ledger of Zips Storage at January 1 2021. Includes the
Problem 3-9A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) The general ledger of Zips Storage at January 1 2021. Includes the following account balances: Credits Debits $ 24,700 15,500 12,200 149,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,800 5,900 144,000 44,700 201,400 $ 201,400 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $135, 100, and on account, $52,700. 2. February 12 Collect on accounts receivable, $51,600. 3. April 25 Receive cash in advance from customers, $13,000. 4. May 6 Purchase supplies on account, $9,400. 5. July 15 Pay property taxes, $8,600. 6. September 10 Pay on accounts payable, $11,500. 7. October 31 Paysalaries, $124,600. 8. November 20 Issue shares of common stock in exchange for $20,000 cash. 9. December 30 Pay $2,900 cash dividends to stockholders. Insurance expired during the year is $7,100. Supplies remaining on hand at the end of the year equal $3,000. Provide services of $11.900 related to cash paid in advance by customers. General General Trial Income Balance Require. Journal Ledger Balance Statem... Sheet 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 9). Review the 'General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 10- 12). 3. Review the adjusted Trial Balance' as of December 31, 2021. 4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2021 in the Balance Sheet' tab. 6. Record the closing entries in the General Journal' tab these are shown as items 13- 15). RETETE General Journal >
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