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Required information The following information applies to the questions displayed below) The general ledger of Pipers Plumbing at January 1, 2021. Includes the following account
Required information The following information applies to the questions displayed below) The general ledger of Pipers Plumbing at January 1, 2021. Includes the following account balances Credits Debits $ 4,500 9,500 3,500 36,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,000 6,000 7,000 0 23,000 9,500 $53,500 $53,500 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $20,000, and on account, $65,000. 2. March 13 Collect on accounts receivable, $53,000. 3. May 6 Issue shares of common stock in exchange for $11,000 cash. 4. June 30 Pay salaries for the current year, $33,000. 5. September 15 Pay utilities of $7,000 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $10,000. 7. December 30 Pay $3,000 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $8,000. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $10,000 paid in advance by customers, $7,000 of the work has been completed by the end of the year. Accrued utilities at vear-end amounted to $6.000. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $8.000. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $10,000 paid in advance by customers, $7000 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,000. 5. Record adjusting entries. Depreciation for the year on the machinery is $8,000. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $10,000 paid in advance by customers. $7,000 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,000. (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 1 N 3 Record the adjusting entry for depreciation, $8,000. Note: Enter debits before credits Date General Journal Debit Credit December 31 Accrued utilities at year-end amounted to $6,000. (If no entry is required for a particular transaction/event, s Required in the first account field.) View transaction list Journal entry worksheet 1 3 Record the adjusting entry for supplies. Supplies remaining on hand at the end of the year equal $1,100. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general Journal LUULUI Journal entry worksheet
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