Question: Problem 3-9A (Algo) 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

Problem 3-9A (Algo) 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 Zips Storage at January 1, 2024, includes the following account balances:

Accounts Debits Credits
Cash $25,600
Accounts Receivable 16,400
Prepaid Insurance 14,000
Land 158,000
Accounts Payable $7,700
Deferred Revenue 6,800
Common Stock 153,000
Retained Earnings 46,500
Totals $214,000 $214,000

The following is a summary of the transactions for the year:

1. January 9 Provide storage services for cash, $144,100, and on account, $57,200.
2. February 12 Collect on accounts receivable, $52,500.
3. April 25 Receive cash in advance from customers, $13,900.
4. May 6 Purchase supplies on account, $11,200.
5. July 15 Pay property taxes, $9,500.
6. September 10 Pay on accounts payable, $12,400.
7. October 31 Pay salaries, $133,600.
8. November 20 Issue shares of common stock in exchange for $37,000 cash.
9. December 30 Pay $3,800 cash dividends to stockholders.

Problem 3-9A (Algo) Part 4

4. Prepare an unadjusted trial balance.

ZIPS STORAGE
Unadjusted Trial Balance
December 31, 2024
Accounts Debit Credit
Cash
Accounts Receivable
Prepaid Insurance 14,000 selected answer correct
Supplies 11,200 selected answer correct
Land 158,000 selected answer correct
Accounts Payable
Deferred Revenue
Common Stock
Retained Earnings
Dividends
Service Revenue
Property Tax Expense 9,500selected answer correct
Salaries Expense 133,600selected answer correct
Insurance Expense
Supplies Expense
Totals

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