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The general ledger of Zips Storage at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the
The general ledger of Zips Storage at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $145,100, and on account, $57,700. 2. February 12 collect on accounts receivable, $52,600. 3. April 25 Receive cash in advance from customers, $14,000. 4. May 6 Purchase supplies on account, $11,400. 5. July 15 Pay property taxes, $9,600. 6. September 10 Pay on accounts payable, $12,500. 7. October 31 Pay salaries, $134,600. 8. November 20 Issue shares of common stock in exchange for $38,000cash. 9. December 30 Pay $3,900 cash dividends to stockholders. Insurance expired during the year is $8,100. Supplies remaining on hand at the end of the year equal $4,000. Provide serv $12,900 related to cash paid in advance by customers. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separate balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection
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