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The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Debits $26,600 17,400 16,000 168,000 Accounts Cash Accounts Receivable Prepaid
The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Debits $26,600 17,400 16,000 168,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 The following is a summary of the transactions for the year: Requirement $228,000 Pay property taxes, $10,500. Pay on accounts payable, $13,400. Pay salaries, $143,600. Provide storage services for cash, $154,100, and on account, 62,200. Collect on accounts receivable, $53,500. Receive cash in advance from customers, $14,900. Purchase supplies on account, $13,200. General Journal Credits General Ledger $8,700 7,800 Issue shares of common stock in exchange for $47,000 cash. Pay $4,800 cash dividends to stockholders. Insurance expired during the year is $9,000. Supplies remaining on hand at the end of the year equal $4,900. Provide services of $13,800 related to cash paid in advance by customers. 163,000 48,500 $228,000 Trial Balance
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, $154,100, and on account, $62,209. 2. February 12 Collect on accounts receivable, 553,500. 3. Apri1 25 Receive cash in advance from custeners, $14,960. 4. May 6 Purchase supplies on account, $13,209. 5. July 15 Pay property taxes, $10,500. 6. September 10 Pay on accounts payable, $13,409. 7. October 31 Day salamies, $143,600, 3. November 26 Issue shares of connon stock in exchange for $47,000 cash. 9. Decenber 30 Pay $4,86e cosh dividends to stockholders. Insurance expired during the year is $9.000. Supplies remaining on hand at the end of the year equal $4,900. Provide services of $13,800 related to cash paid in advance by customers. 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, $154,100, and on account, $62,209. 2. February 12 Collect on accounts receivable, 553,500. 3. Apri1 25 Receive cash in advance from custeners, $14,960. 4. May 6 Purchase supplies on account, $13,209. 5. July 15 Pay property taxes, $10,500. 6. September 10 Pay on accounts payable, $13,409. 7. October 31 Day salamies, $143,600, 3. November 26 Issue shares of connon stock in exchange for $47,000 cash. 9. Decenber 30 Pay $4,86e cosh dividends to stockholders. Insurance expired during the year is $9.000. Supplies remaining on hand at the end of the year equal $4,900. Provide services of $13,800 related to cash paid in advance by customersStep by Step Solution
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