Requirea information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following...
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Requirea information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Debits Credits $12,000 6,400 Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals 2,400 18,000 $ 6,200 8,700 17,000 6,900 $38,800 $38,800 The following is a summary of the transactions for the year: 1. March 2. May 3. June 4. August 12 Provide services to customers, $44,000, of which $19,400 is on account. 2 Collect on accounts receivable, $16,400. 30 Issue shares of common stock in exchange for $6,000 cash. 1 Pay salaries of $8,700 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,400. 6. October 19 Purchase equipment for $6,400 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. Novt Check 11. Prepare a post-closing trial balance. RED STORM CLEANERS Post-Closing Trial Balance December 31, 2021 Accounts Debit Credit 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $3,400. Office supplies remaining on hand at the end of the year equal $1,000. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Date General Journal 2 December 31, 202 Depreciation Expense 3 December 31, 202 Supplies Expense Debit Credit 3,400 1,400 13 Requirea information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Debits Credits $12,000 6,400 Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals 2,400 18,000 $ 6,200 8,700 17,000 6,900 $38,800 $38,800 The following is a summary of the transactions for the year: 1. March 2. May 3. June 4. August 12 Provide services to customers, $44,000, of which $19,400 is on account. 2 Collect on accounts receivable, $16,400. 30 Issue shares of common stock in exchange for $6,000 cash. 1 Pay salaries of $8,700 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,400. 6. October 19 Purchase equipment for $6,400 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. Novt Check 11. Prepare a post-closing trial balance. RED STORM CLEANERS Post-Closing Trial Balance December 31, 2021 Accounts Debit Credit 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $3,400. Office supplies remaining on hand at the end of the year equal $1,000. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Date General Journal 2 December 31, 202 Depreciation Expense 3 December 31, 202 Supplies Expense Debit Credit 3,400 1,400 13
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