Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] 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 plumbing services for cash, $18,000, and on account, $63,000. 2. March 13 collect on accounts receivable, $51,000. 3. May 6 Issue shares of common stock in exchange for $10,000cash. 4. June 30 Pay salaries for the current year, $32,600. 5. September 15 Pay utilities of $6,200 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $9,200. 7. December 30 pay $2,600 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $7,200. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $9,200 paid in advance by customers, $6,600 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,400. (1) Required information \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. & & \multicolumn{3}{|c|}{ Supplies } \\ \hline & & & \\ \hline & & & \\ \hline End. Bal. & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|r|l|l|} \hline Beg. Bal. Accumulated Depreciation & \\ \hline & & & \\ \hline & & & \\ \hline End. Bal. & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Prev 8cos9 of 9 itt Next > 2. March 13 collect on accounts receivable, $51,000. 3. May 6 Issue shares of conmon stock in exchange for $10,000 cash. 4. June: 30 pay salarios for the current year, $32,600. 5. September 15 Pay utilities of $6,200 fron 2020 (prior year). 6. Noveaber 24 Receive cash in advance from eustoners, $9,200. 7. Decenber 30 Pay $2,600 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $7,200. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $9,200 paid in advance by customers, $6,600 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,400. Problem 3-8B Part 1, 3, 6, 10 1., 3., 6 \& 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Required information \begin{tabular}{|l|r|r|r|} \hline End. Bal. & 0 & \\ \hline & & \\ \hline & Utilities Payable & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline End. Bal. Bal. & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline End. Bat. & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline Beg. Bal. Common Stock & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Rrey 8cos9 of 9 Next Required information \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. & & & \\ \hline & & & \\ \hline & & & \\ \hline End. Bal. & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. Utilities Expense & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. Supplies Expense & \\ \hline & & & \\ \hline & & & \\ \hline End. Bal. & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beg. Bal. & & & \multicolumn{3}{|c|}{ Depreciation Expense } \\ \hline & & & \\ \hline & & & \\ \hline End. Bal. & & & \\ \hline \end{tabular}