Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is service revenue in december 31 The general ledger of Pipers Plumbing at January 1,2021 , includes the following account balances: The following is

What is service revenue in december 31 image text in transcribed

image text in transcribed

The general ledger of Pipers Plumbing at January 1,2021 , includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plunbing services for cash, 813 , 500 , and on account, 850,500 . 2. March 13 collect on atcounts receivable, 546,500 . 3. May 6 Isswe shares of connen stock in exchange for 811,000 cash. A. June 10 Pay salaries for the current year, 531,700 . 5. September 15 Pay utilities of $4,400 troe 2020 (onlor year). 6. Novenber 24 Receive cash in advance froe custoners, 57,400 . 7. Decenber 30 Fay $1,700 cash dividends to stockholders. The following information is avallable for the adjusting entries. Depreciation for the year on the machinery is $5.400. Plurnbing supplies remaining on hand at the end of the year equal $1.100. Of the $7,400 paid in advance by customers, $5,700 of the work has beren completed by the end of the year. Acciued utilibes at year-end amounted to $7.300

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

Recommended Textbook for

Fundamentals Of Managerial Accounting Version 3.0

Authors: Kurt Heisinger, Joe Ben Hoyle

1st Edition

1453399410, 9781453399415

More Books

Students also viewed these Accounting questions

Question

What are their resources?

Answered: 1 week ago