Saved Required Information Problem 3-8A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, Includes the following account balances: Credits Debits $17,000 7,400 3,400 12,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 3,800 5,800 22,000 8,200 $39,800 $39,800 The following is a summary of the transactions for the year. 1. March 12 Provide services to customers, 654,000, of which $20,400 is on account. 2. May 2 Collect on accounts receivable, $17,400. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $5,800 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $12,400. 6. October 19 Purchase equipment for $7,400 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. Problem 3-8A Part 7 7. Prepare an adjusted trial balance. RED STORM CLEANERS Adjusted Trial Balance December 31, 2021 MacBook Air GOD 80 F3 DOO 74 F6 F7 FB Required Information 7. Prepare an adjusted trial balance. Credit RED STORM CLEANERS Adjusted Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals $ 0 $ 0 MacBook AS co go 000 DOD F4 F6 F7 FB 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No jo account field.) View transaction list Journal entry worksheet N Record the closing entry for cash dividends. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal MacBook * 80 000 11 FS 57 & % 5 * 8 2 3 4 6 7 9 0 Required information CHUD C G Common Stock Rotained Earnings Beg. Bal Beg Bal. End. Bal End. Bal Service Revenue Dividends Beg. Bal Beg. Bal End. Bal End. Bal Salaries Expense Repairs and Maintenance Expense Beg. Bal. Beg. Bal. End. Bal End. Bal Depreciation Expense Supplies Expense Beg Bal Beg Bal End. Bal. End. Bal MacBook Air 80 F3 O00 74 . F7 A $ 4 % 5 & . 3 6 7 8 9 0 J. Dopo 6. October 7. December 43 Fay Lou Loulua BABA. 19 Purchase equipment for $7,400 cash. 30 Pay $1,100 cash dividends to stockholders. Problem 3-8A Part 11 11. Prepare a post-closing trial balance. RED STORM CLEANERS Post-Closing Trial Balance December 31, 2021 Debit Accounts Credit nces Totals MacBook Air GOD 80 F3 DOO 74 F6 F7 FB Required Information 7. Prepare an adjusted trial balance. Credit RED STORM CLEANERS Adjusted Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals $ 0 $ 0 MacBook AS co go 000 DOD F4 F6 F7 FB 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No jo account field.) View transaction list Journal entry worksheet N Record the closing entry for cash dividends. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal MacBook * 80 000 11 FS 57 & % 5 * 8 2 3 4 6 7 9 0 Required information CHUD C G Common Stock Rotained Earnings Beg. Bal Beg Bal. End. Bal End. Bal Service Revenue Dividends Beg. Bal Beg. Bal End. Bal End. Bal Salaries Expense Repairs and Maintenance Expense Beg. Bal. Beg. Bal. End. Bal End. Bal Depreciation Expense Supplies Expense Beg Bal Beg Bal End. Bal. End. Bal MacBook Air 80 F3 O00 74 . F7 A $ 4 % 5 & . 3 6 7 8 9 0 J. Dopo 6. October 7. December 43 Fay Lou Loulua BABA. 19 Purchase equipment for $7,400 cash. 30 Pay $1,100 cash dividends to stockholders. Problem 3-8A Part 11 11. Prepare a post-closing trial balance. RED STORM CLEANERS Post-Closing Trial Balance December 31, 2021 Debit Accounts Credit nces Totals
