The general ledger of Jackrabbit Rentals at January 1, 2024, includes the following account balances: Accounts Cash Debits Credits $ 43,500 Accounts Receivable. Land 27,700 112,800 Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals $184,000 $ 15,500 32,000 102,000 34,500 $184,000 The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22 9. December 10 Provide services to customers on account, $64,400. Provide services to customers for cash, $76,300. Collect on accounts receivable, $45,900. Issue shares of common stock in exchange for $32,000 cash, Purchase supplies on account, $12,500. Pay on accounts payable, $11,500. Pay salaries for employee work in the current year, $66,200. Pay advertising for the current year, $22,700. Pay $3,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2.700 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,700 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2.500. The general ledger of Jackrabbit Rentals at January 1, 2024, Includes the following account balances: Accounts Debits Credits Cash $ 43,500 Accounts Receivable Land 27,700 112,800 Accounts Payable $ 15,500 Notes Payable (due in 2 years) Common Stock Retained Earnings 32,000 102,000 34,500 Totals $ 184,000 $ 184,000 The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22 9. December 30 Provide services to customers on account, $64,400. Provide services to customers for cash, $76,300. Collect on accounts receivable, $45,900. Issue shares of common stock in exchange for $32,000 cash. Purchase supplies on account, $12,500. Pay on accounts payable, $11,500. Pay salaries for employee work in the current year, $66,200. Pay advertising for the current year, $22,700. Pay $3,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,700 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,700 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,500. The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22 9. December 30 Provide services to customers on account, $64,400. Provide services to customers for cash, $76,300. Collect on accounts receivable, $45,900. Issue shares of common stock in exchange for $32,000 cash. Purchase supplies on account, $12,500. Pay on accounts payable, $11,500. Pay salaries for employee work in the current year, $66,200. Pay advertising for the current year, $22,700. Pay $3,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2.700 and will be paid January 1, 2025. Accrued salaries at year-ene amounted to $1,700 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,500. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-9). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 10-12). 3. Review the adjusted Trial Balance' as of December 31, 2024. 4. Prepare an income statement for the period ended December 31, 2024, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2024 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal" tab (these are shown as items 13-15). General Journal > The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22 9. December 30 Provide services to customers on account, $64,400. Provide services to customers for cash, $76,300. Collect on accounts receivable, $45,900. Issue shares of common stock in exchange for $32,000 cash. Purchase supplies on account, $12,500. Pay on accounts payable, $11,500. Pay salaries for employee work in the current year, $66,200. Pay advertising for the current year, $22,700. Pay $3,100 cash dividends to stockholders. The following information is available for the adjusting entries Accrued interest on the notes payable at year-end amounted to $2.700 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,700 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2.500 Requirement General Journal General Ledger Trial Balance Income) Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-9). Review the 'General Ledger' and the "Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 10-12). 3. Review the adjusted 'Trial Balance' as of December 31, 2024. 4. Prepare an income statement for the period ended December 31, 2024, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2024 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 13-15). General Journal > es The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22 9. December 30 Provide services to customers on account, $64,400. Provide services to customers for cash, $76,300. Collect on accounts receivable, $45,900. Issue shares of common stock in exchange for $12,000 cash. Purchase supplies on account, $12,500. Pay on accounts payable, $11,500. Pay salaries for employee work in the current year, $66,200. Pay advertising for the current year, $22,700. Pay $3,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,700 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,700 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2.500. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal" tab (these are shown as items 1-9). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the "General Journal" tab (these are shown as items 10-12). 3. Review the adjusted 'Trial Balance' as of December 31, 2024. 4. Prepare an income statement for the period ended December 31, 2024, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2024 in the 'Balance Sheet" tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 13-15). General Journal > es Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list x Record the services provided to customers on account, $64,400. 2 3 Record the services provided to customers for cash, $76,300. Record the accounts receivable, $45,900 collected. 4 Record shares of common stock issued in exchange for $32,000 cash. 5 Record the purchase of supplies on account, $12,500. 6 Record the payment on accounts payable, $11,500. Note Journal entry has been entered X 15 Credit < Prev 7 of 7 Next Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list 6 Record the payment on accounts payable, $11,500. cs 7 Record the payment of salaries for employee work in the current year, $66,200. 8 Record the payment of advertising for the current year, $22,700, b 9 Record the $3,100 cash dividends paid to stockholders. 10 Record the adjusting entry for interest. Accrued interest on the notes payable at year-end amounted to $2,700 and will be paid January 1, 2025, 11 Record the adjusting entry for salaries. Accrued salaries Note journal entry has been entered 15 Credit Prev 7 of 7 Next Cycle Workbook Saved Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list on the notes payable at year-end amounted to $2,700 and will be paid January 1, 2025. 11 Record the adjusting entry for salaries. Accrued salaries at year-end amounted to $1,700 and will be paid on January 5, 2025. 12 Record the adjusting entry for supplies. Supplies remaining on hand at the end of the year equa $2,500. 13 Record the closing entry for revenue.. 14 Record the closing entry for expenses. 15 Record the closing entry for cash dividends. Note journal entry has been entered 15 > Credit < Prev 7 of 7 2 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Revenues: Jackrabbit Rentals Income Statement For the Year Ended December 31, 2024 Total Revenues Expenses Total Expenses The balance sheet is the accounting equation: Assets Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Assets Current assets Total current assets Long term assets Total assets Jackrabbit Rentals Balance Sheet December 31, 2024 Liabilities Current liabilibes Total current liabilities Total liabates Stockholders' Equity Total stockholder's equity Total liabates and stockholders' equity the following is a summary of the transactions for the year: January 12 February 25 3. March 19 April 30 5. June 161 6. July 7 7. September 30 8. November 22 9. December 30 Provide services to customers on account, $64,400. Provide services to customers for cash, $76,300. Collect on accounts receivable, $45,900. Issue shares of common stock in exchange for $32,000 cash. Purchase supplies on account, $12,500. Pay on accounts payable, $11,500. Pay salaries for employee work in the current year, $66,200. Pay advertising for the current year, $22,700. Pay $3,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2.700 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,700 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,500. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet The balance sheet is the accounting equation: Assets Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Jackrabbit Rentals: Balance Sheet December 31, 2024 Assets Liabilities es Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 8 9 10 11 12 Record the closing entry for revenue. Note: Enter debits before credits. Date December 31 133 15 General Journal Debit Credit 121: Allowance for Uncollectible Accounts 125: Note Receivable 130: Interest Receivable Record entr 135: Inventory 140: Supplies View general journal Prev 7 of 7 Next