Required information [The following information applies to the questions displayed below.] The general led ger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits Accounts $ 4,100 Cash Accounts 9,100 Receivable Supplies Equipment Accumulated 3,100 28,000 $ 6,400 Depreciation Accounts Payable Utilities 4,400 5,400 Payable Deferred Revenue 0 Common Stock Retained 19,000 9,100 Earnings $44,300 $44,300 Totals The following is a summary of the transactions for the year: 24 Provide plumbing services for cash, $16,000, and on account, $61,000 13 Collect on accounts receivable, $49,000 6 Issue shares of common stock in exchange for $12, 000 cash. 30 Pay salaries for the current year, $32,200 1. January 2. March 3. ay 4. June 5. September 15 Pay utilities of $5,400 from 2020 (prior year). 6. November 7. December 24 Receive cash in advance from customers, $8,400. 30 Pay $2,200 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $$6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,800. 2. Prepare 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.) No Date General Journal Debit Credit 16,000 Cash 1 January 24 Accounts Receivable 61,000 77,000 Service Revenue 49,000 Cash 2 March 13 49,000 Accounts Receivable 12,000 Cash May 06 12,000 Common Stock Salaries Expense 32,200 4 June 30 32,200 Cash September 05 Utilities Payable 5,400 5 5,400 Cash November 24 Cash 8,400 6 8,400 Deferred Revenue 2,200 December 30 Dividends 7 2,200 Cash 4. Prepare an unadjusted trial balance. PIPERS PLUMBING Unadjusted Trial Balance December 31, 2021 Credit Accounts Debit $ 49,700 21,100 3,100 28,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings 6,400 4,400 8,400 31,000 9,100 Dividends 2,200 Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense 77,000 32,200 $136,300 Totals 136,300 5. Record adjusting entries. Depreciation for the year on the machinery is $6,400. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $8,400 paid in advance by customers, $6,200 of the work has been completed by the end of the year. Accrued util ities at year-end amounted to $6,800. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Date Credit No General Journal Debit December 31 Depreciation Expense 6,400 1 Accumulated Depreciation 6,400 December 31 Supplies Expense 1,900 2 1,900 Supplies 6,200 December 31 Deferred Revenue 3 6,200 Service Revenue December 31 Utilities Expense 6,800 4 Utilities Payable 6,800 7. Prepare an adjusted trial balance. PIPERS PLUMBING Adjusted Trial Balance December 31, 2021 Accounts Debit Credit $ 49,700 Cash Accounts Receivable Supplies Equipment 21,100 1,200 28,000 Accumulated 12,800 Depreciation Accounts Payable Utilities Payable 4,400 6,800 2,200 31,000 Deferred Revenue Common Stock Retained Earnings 9,100 Dividends 2,200 Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense 83,200 32,200 6,800 1,900 6,400 $ 149,500$ 149,500 Totals 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Date Credit No General Journal Debit December 31 Service Revenue 83,200 1 Retained Earnings 83,200 47,300 December 31 Retained Earnings 2 Depreciation Expense Salaries Expense Utilities Expense Supplies Expense 6,400 32,200 6,800 1,900 December 31 Retained Earnings 2,200 2,200 Dividends 1., 3., 6 & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Cash Accounts Receivable Beg. Bal a. Beg. Bal. 4,100 16,000 49,000 9,100 61,000 . 49,000 b. b. 12,000 8,400 C. f. 5,400 e End. Bal End. Bal 21,100 84,100 Equipment 28,000 Supplies 3,100 Beg. Bal. Beg. Bal. End. Bal End. Bal. 28,000 3,100 Accumulated Depreciation Accounts Payable Beg. Bal Beg. Bal. 6,400 4,400 End. Bal. End. Bal 6,400 4,400 Utilities Payable Deferred Revenue Beg. Bal. 5,400 eg. Bal. 0 8,400 End. Bal End. Bal 8,400 5,400 Retained Earnings Common Stock Beg. Bal. Beg. Bal. 19,000 12,000 9,100 End. Bal End. Bal 31,000 9,100 Dividends Service Revenue Beg. Bal. Beg. Bal. 2,200 77,000 End. Bal. 2,200 End. Bal. 77,000 Utilities Expense Salaries Expense Beg. Bal. eg. Bal. 32,200 End. Bal End. Bal 32,200 Depreciation Expense Supplies Expense Beg. Bal. Beg. Bal End. Bal. End. Bal