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The general ledger of Green Stream Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation
The general ledger of Green Stream Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Debits $ 16,000 7,200 Credits 3,200 11,000 $3,400 5,400 21,000 7,600 Retained Earnings Totals $ 37,400 $ 37,400 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 Required: Provide services to customers, $52,000, of which $20,200 is on account. Collect on accounts receivable, $17,200. Issue shares of common stock in exchange for $4,000 cash. Pay salaries of $5,400 from 2023 (prior year). Pay repairs and maintenance expenses, $12,200. Purchase equipment for $7,200 cash. Pay $1,200 cash dividends to stockholders. 2. Record each of the summary transactions listed above. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,700. Depreciation for the year on the equipment is $4,200. Office supplies remaining on hand at the end of the year equal $1,100. 7. Prepare an adjusted trial balance. 8-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. 9. Record closing entries. 1., 3., 6., & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. 11. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Prat 7 of 7 Next Complete this question by entering your answers in the tabs below. Req 2 Rec Rec Req 7 Req Ba Reg Bb Reg 9 Req 1 and 3 and 6 and Req 11 10 Record each of the summary transactions listed above. (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 2 3 4 5 6 7 Provide services to customers, $52,000, of which $20,200 is on account. Note: Enter debits before credits. Date March 12 General Journal Debit Credit Record entry Clear entry View general journal Proy 7 of 7 Noxt
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