The general ledger of Black Cloud Cleaners at January 1, 2024, includes the following account balances:...

Transcribed Image Text:

The general ledger of Black Cloud Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Debits Credits $ 14,500 Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals 6,900 2,900 15,500 $ 5,200 7,700 19,500 7,400 $ 39,800 $39,800 The following is a summary of the transactions for the year: 1. March 12 2. May 2 3. June 30 4. August 1 5. September 25 6. October 19 7. December 30 Provide services to customers, $49,000, of which $19,900 is on account. Collect on accounts receivable, $16,900. Issue shares of common stock in exchange for $4,000 cash. Pay salaries of $7,700 from 2023 (prior year). Pay repairs and maintenance expenses, $11,900. Purchase equipment for $6,900 cash. Pay $1,200 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,700. Depreciation for the year on the equipment is $3,900. Office supplies remain hand at the end of the year equal $1,100. The general ledger of Black Cloud Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Debits Credits $ 14,500 Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals 6,900 2,900 15,500 $ 5,200 7,700 19,500 7,400 $ 39,800 $39,800 The following is a summary of the transactions for the year: 1. March 12 2. May 2 3. June 30 4. August 1 5. September 25 6. October 19 7. December 30 Provide services to customers, $49,000, of which $19,900 is on account. Collect on accounts receivable, $16,900. Issue shares of common stock in exchange for $4,000 cash. Pay salaries of $7,700 from 2023 (prior year). Pay repairs and maintenance expenses, $11,900. Purchase equipment for $6,900 cash. Pay $1,200 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,700. Depreciation for the year on the equipment is $3,900. Office supplies remain hand at the end of the year equal $1,100.