Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Please Answer the Red ones marked wrong and show

The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances:

Please Answer the Red ones marked wrong and show work thank you

image text in transcribedimage text in transcribed

! Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: 7 Credits Accounts Debits $15,500 7,100 3,100 10,500 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable 3,200 5,200 20,500 Common Stock Retained Earnings 7,300 $36,200 $36,200 Totals The following is a summary of the transactions for the year: 12 Provide services to customers, $51,000, of which $20,100 is on account 2 Collect on accounts receivable, $17,100. 30 Issue shares of common stock in exchange for $6,000 cash 1 Pay salaries of $5,200 from 2020 (prior year). 1. March 2. ay 3. June 4. August 5. September 25 Pay repairs and maintenance expenses, $12,100 6. October 7. December 19 Purchase equipment for $7,100 cash. 30 Pay $1,100 cash dividends to stockholders 7. Prepare an adjusted trial balance Answer is not complete. 7. Prepare an adjusted trial balance. Answer is not complete. RED STORM CLEANEorote Adjusted Trial Balance December 31, 2021 Accounts Debit Credit $ 44,000 Cash Accounts Receivable 10,100 Supplies 1,200 Equipment 17,600 Accumulated Depreciation 8,200 Salaries Payable 1,100X Common Stock 26,500 Retained Earnings 7,300 1,100 Dividends 51,000 Service Revenue Salaries Expense Repairs and Maintenance Expense 12,100 Depreciation Expense 4,100 Supplies Expense 1,900 93,000 $ 93,200 Totals

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

How does this strategy relate to IBMs values?P-968

Answered: 1 week ago

Question

4 What are the main practices associated with SHRM?

Answered: 1 week ago