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The following information applies to the questions displayed below The general ledger of Jackrabbit Rentals at Jenuary 1, 2018, includes the following account balances: Debits
The following information applies to the questions displayed below The general ledger of Jackrabbit Rentals at Jenuary 1, 2018, includes the following account balances: Debits Credits Cash S 43,500 27700 112,800 Accounts Payable Notes Payable Common Stock Retained Earnings $15,500 32,000 102,000 34,500 Totals $184,000 $184,000 The following is a summary of the transactions for the year a. January 12 Provide services to customers on account, $64,400. b. February 25 Provide services to customers for cash, $76,300. c. March 19 Collect on accounts receivable, $45,900. d. April 30 Issue shares of common stock in exchange for $32,000 cash. e. June 16 Purchase supplies on account, $12,500. f. July 7 Pay on accounts payable, $11,500. g. September 30 Pay salaries for employee work in the current year, $66,200. h. November 22 Pay advertising for the current year, $22,700. i. December 30 Pay $3,100 cash dividends to stockholders. J Accrued interest on the notes payable at year-end amounted to $2,700. Accrued salaries at year-end amounted to $1,700 Supplies remaining on hand at the end of the year equal $2,500. 3 value: 2.00 points 4. Prepare an unadjusted trial balance JACKRABBIT RENTALS Unadjusted Trial Balance December 31, 2018 Accounts Debit Credit 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 2.00 points 5 Record adjusting entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Record the adjustment for interest expense 2 Record the adjustment for salary expense. 3 Record the adjustment for supplies expense Credit Note:journal entry has been entered Record entry Clear entry View general journal value 3.00 points 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Record the entry to close the revenue accounts 2 Record the entry to close the expense accounts 3 Record the entry to close the dividends account. Credit Note:-journal entry has been entered Record entry Clear entry View general journal 8. 3.00 points 11. Prepare a post-closing trial balance. JACKRABBIT RENTALS Post-Closing Trial Balance December 31, 2018 Accounts Debit Credit Totals
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