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Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2021 (the end of its fiscal
Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2021 (the end of its fiscal year). Tamarisk, Inc. Trial Balance December 31, 2021 Debit Credit Cash $7,000 Accounts Receivable: 15,100 Supplies 12,200 Prepaid Rent 3,200 Equipment 20,500 Accounts Payable $15,900 Common Stock 31,100 Retained Earnings 11,000 $58,000 $58,000 Summarized transactions for January 2022 were as follows. 1. Advertising costs, paid in cash, $1,170. 2. Additional supplies acquired on account $3,390. 3. Miscellaneous expenses, paid in cash, $1,970. 4. Cash collected from customers in payment of accounts receivable $12,050. 5. Cash paid to creditors for accounts payable due $12.710. 6. Repair services performed during January: for cash $6,910; on account $9,630. 7. Wages for January, paid in cash, $2,280. 8. Dividends during January were $2,600.
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