The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:

Accounts	Debits				Credits
Cash	$	4,350
Accounts Receivable		9,350
Supplies		3,350
Equipment		33,000
Accumulated Depreciation					$	7,400
Accounts Payable						5,400
Utilities Payable						6,400
Deferred Revenue						0
Common Stock						21,500
Retained Earnings						9,350
Totals	$	50,050			$	50,050

The following is a summary of the transactions for the year:

1.		January		24		Provide plumbing services for cash, $18,500, and on account, $63,500.
2.		March		13		Collect on accounts receivable, $51,500.
3.		May		6		Issue shares of common stock in exchange for $11,000 cash.
4.		June		30		Pay salaries for the current year, $32,700.
5.		September		15		Pay utilities of $6,400 from 2020 (prior year).
6.		November		24		Receive cash in advance from customers, $9,400.
7.		December		30		Pay $2,700 cash dividends to stockholders.

The following information is available for the adjusting entries.

Depreciation for the year on the machinery is $7,400. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $10,000 paid in advance by customers, $6,700 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,300.

QUESTIONS:

WHEN ANSWERING, PLEASE LABEL EACH PROBLEM WORKED AND PLEASE SHOW HOW ANSWERS ARE FOUND AND PLEASE EXPLAIN.

(Please also make sure the answer is legible, I could not read the answers the last time I posted this question, therefore I was still unable to understand it.)

4. Prepare an unadjusted trial balance. 7. Prepare an adjusted trial balance. 8-a. Prepare an income statement for the year ended December 31, 2021. 8-b. Prepare a classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

9. Record closing entries. (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

1., 3., 6 & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances.

(The following listed are all of the T-accounts, please show each individual one) > Cash, Accounts Receivable, Supplies, Equipment, Accumulated Depreciation, Accounts Payable, Utilities Payable, Deferred Revenue, Common Stock, Retained Earnings, Dividends, Service Revenue, Salaries Expense, Utilities Expense, Supplies Expense, Depreciation Expense.

11. Prepare a post-closing trial balance.

Required information 7. Prepare an adjusted trial balance. Credit PIPERS PLUMBING Adjusted Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock S Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense Totals / II. TIL A TI / / / 8-a. Prepare an income statement for the year ended December 31, 2021. PIPERS PLUMBING Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses 0 8-b. Prepare a classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) PIPERS PLUMBING Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: 0 o Total current assets Long-term Assets: Total Current Liabilities Stockholder's Equity Total Stockholder's Equity 0 Total Liabilities and Stockholders' Equity Total Assets $ 1., 3., 6 & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Cash Accounts Receivable Beg. Bal Beg Bal End. Bal. End, Bal Supplies Equipment Beg. Bet Beg Bal End. Bal. O Accumulated Depreciation Accounts Payable Beg Bal Beg Bal. End. Bal 0 End. Bal Utilities Payable Deferred Revenue Beg Bal Beg Bal. Required information 7. Prepare an adjusted trial balance. Credit PIPERS PLUMBING Adjusted Trial Balance December 31, 2021 Accounts Debit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock S Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense Totals / II. TIL A TI / / / 8-a. Prepare an income statement for the year ended December 31, 2021. PIPERS PLUMBING Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses 0 8-b. Prepare a classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) PIPERS PLUMBING Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: 0 o Total current assets Long-term Assets: Total Current Liabilities Stockholder's Equity Total Stockholder's Equity 0 Total Liabilities and Stockholders' Equity Total Assets $ 1., 3., 6 & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Cash Accounts Receivable Beg. Bal Beg Bal End. Bal. End, Bal Supplies Equipment Beg. Bet Beg Bal End. Bal. O Accumulated Depreciation Accounts Payable Beg Bal Beg Bal. End. Bal 0 End. Bal Utilities Payable Deferred Revenue Beg Bal Beg Bal