US accounting standards

! Required information [The following information applies to the questions displayed below.) Thunder Cat Services specializes in training and veterinary services to household pets, such as dogs, birds, lizards, fish, horses, and of course, cats. After the first 11 months of operations in 2021, Thunder Cat has the following account balances: THUNDER CAT SERVICES Trial Balance November 30, 2021 Accounts Debits Credits Cash $ 21,200 Supplies 3,300 Prepaid Rent 9,000 Equipment 81,900 Buildings 241,800 Accounts Payable $ 11,600 Deferred Revenue 5,600 Common Stock 126,800 Retained Earnings 79,100 Dividends 10,800 Service Revenue 265,800 Salaries Expense 66,800 Advertising Expense 20,000 Utilities Expense 34,100 Totals $488,900 $488,900 The following transactions occur during December 2021: December December December December December December December December December December 1- Throughout the month, Thunder Cat provides services to customers for cash, $29,200. (Hint: Record the 31 entire month's services in a single entry.) 4 Purchase pet supplies on account, $4,700. 8 Pay for fliers to be distributed to local residences to advertise the company's services, $5,000. 9 Pay for supplies purchased on December 4. 12 Issue additional shares of common stock for cash, $6,800. 16 Pay cash on accounts payable, $8,100. 19 Purchase equipment with cash, $9,500. 22 Pay utilities for December, $6,300. 24 Receive cash from customers for services to be provided next January, $4,100. 27 One of Thunder Cat's trainers takes a part-time job at the zoo and earns a salary of $3,000. The zoo and Thunder Cat Services are separate companies. 30 Pay employee salaries for the current month, $8,800. 31 Pay dividends to stockholders, $4,800. December December 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at December 31. (Hint: Be sure to include the balance at the beginning of December in each T-account.) 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at December 31. (Hint: Be sure to Include the balance at the beginning of December in each T-account.) Cash Supplies Beg. Bal. Beg. Bal. End. Bal End. Bal. Prepaid Rent Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Buildings Accounts Payable Beg. Bal Beg. Bal. End. Bal End. Bal. Deferred Revenue Common Stock Beg. Bal. Beg Bal. End. Bal End. Bal Retained Earnings Dividends Beg. Bal. Beg. Bal. End. Bal. End. Bal. Service Revenue Salaries Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Advertising Expense Utilities Expense Beg. Bal. Beg. Bal. 4. Prepare a trial balance as of December 31, 2021. THUNDER CAT SERVICES Trial Balance December 31, 2021 Accounts Debit Credit Cash Supplies Prepaid Rent Equipment Buildings Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Utilities Expense Totals 0 $ 69 0