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The following information applies to the questions displayed belowj The general ledger of Pipers Plumbing at January 1, 2015. includes the following account balances Debits
The following information applies to the questions displayed belowj The general ledger of Pipers Plumbing at January 1, 2015. includes the following account balances Debits Accounts Credits 3,500 Cash 8,500 Accounts receivable Supplies 2,500 Equipment 16,000 4,000 Accumulated depreciation 2,000 Accounts payable 3,000 Utilities payable Unearned revenue Common stock 13,000 8,500 Retained earnings Totals $30,500 $30,500 The following is a summary of the transactions for the year a. Provide plumbing services for cash, $10,000, and on account, $55,000. b. Collect on accounts receivable, $43,000. c. Issue shares of common stock in exchange for $12,000 cash d. Pay salaries for the current year, $31,000. e. Pay for utilities expenses, $11,000, of which $3,000 represents costs for 2014 f Receive cash in advance from customers, $6,000. g. Pay $1,000 cash dividends to stockholders
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