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The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation
The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits Credits $12,000 6,400 2,400 18,000 $ 6,200 8,700 17,000 6,900 $38,800 $38,800 The following is a summary of the transactions for the year: 1. March 2. May 3. June 4. August 12 Provide services to customers, $44,000, of which $19,400 is on account. 2 Collect on accounts receivable, $16,400. 30 Issue shares of common stock in exchange for $6,000 cash. 1 Pay salaries of $8,700 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,400. 6. October 19 Purchase equipment for $6,400 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 13 Che 7. Prepare an adjusted trial balance. Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense RED STORM CLEANERS Adjusted Trial Balance December 31, 2021 Debit Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals Return to question 8 5. Record adjusting entries. Accrued salaries at year-end amounted to $19,600. Depreciation for the year on the equipment is $3,400. Office supplies remaining on hand at the end of the year equal $1,000. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Date General Journal 2 December 31, 202 Depreciation Expense 3 December 31, 202 Supplies Expense G Debit Credit 3,400 1,400
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