Required information The following information applies to the questions displayed below) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Debits Credits Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings $ 45,50o 29,700 114,800 15,700 34,000 104,000 36,300 $190,000 $190,000 Totals The following is a summary of the transactions for the year 1. January 12 Provide services to customers on account, $66, 400. 2. February 25 Provide services to customers for cash, $77,300 3. March 4. Apri 5. June 6. July 7. September 30 Pay salaries for employee work in the current year, $68,200. 8. November 22 Pay advertising for the current year, $22,900 9. December 30 Pay $3,300 cash dividends to stockholders. 19 Collect on accounts receivable, $46,100 30 Issue shares of common stock in exchange for $34,000 cash. 16 Purchase supplies on account, $12,900 7 Pay on accounts payable, $11,700 The following information is available for the adjusting entries Accrued interest on the notes payable at year-end amounted to $2,900 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,900 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,700 5. Record adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,900 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,900 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,700. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry for notes payable. Accrued interest on the notes payable at year-end amounted to $2,900 and will be paid January 1, 2022 Note: Enter debits before credits. Debit Credit Transaction General Journal December 31 of the year equal $2,700. (If no entry is required for a particular transaction/event, select No Journal Entry Required In th account field.) 3 of 8 View transaction list Journal entry worksheet 3 4 58of 14 K Prev 3 5. Record adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,900 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,900 and will be paid on January 5, 2022. Supplies remaining on hand at the of the year equal $2,700. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the f account field.) Part 3 of 8 View transaction list I entry worksheet Record the adjusting entry for supplies. Supplies remaining on hand at the end of the year equal $2,700. Note: Enter debits before credits ansactiorn General Journal Credit Debit December 31 K Prev 3 4 5 8 of 14 Next > Required information The following information applies to the questions displayed below. The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: -Accounts Debits Credits $ 45,500 29,700 114,800 Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings 15,700 34,000 104,000 36,300 $190,000 $190,000 Totals The following is a summary of the transactions for the year . January 12 Provide services to customers on account, $66,400 2. February 25 Provide services to customers for cash, $77,300 3. March 4. April 30 Isue shares of common stock in exchange for $34,000 cash. 5. June 6. July 7. September 30 Pay salaries for employee work in the current year, $68,200. 8. November 22 Pay advertising for the current year, $22,900. 9. December 30 Pay $3,300 cash dividends to stockholders 19 collect on accounts receivable, $46,100 16 Purchase supplies on account, $12,900 7 Pay on accounts payable, $11,700 The following information is available for the adjusting entries Accrued interest on the notes payable at year-end amounted to $2,900 and will be paid January 1, 2022. Accrued salaries at year end amounted to $1,900 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year su issue snares or connon stOCK in exenange ror >34,uuu casn' 16 Purchase supplies on account, $12,900 .Apri . June 6. July 7 Pay on accounts payable, $11,700 7. September 30 Pay salaries for employee work in the current year, $68,200 8. November 22 Pay advertising for the current year, $22,900 9. December 30 Pay $3,300 cash dividends to stockholders The following information is available for the adjusting entries Accrued interest on the notes payable at year-end amounted to $2,900 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,900 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,700. 7. Prepare an adjusted trial balance. JACKRABBIT RENTALS Adjusted Trial Balance December 31, 2021 Credit Accounts Debit Cash Accounts Receivable Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable Common Stock Retained Earninas 7. Prepare an adjusted trial balance. JACKRABBIT RENTALS Adjusted Trial Balance December 31, 2021 Debit Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Interest Expense Supplies Expense Total
