Question: Required information 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.]

Required information 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.]

Required information 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 Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $24,800 Credits 15,600 12,400 150,000 $6,900 6,000 145,000 44,900 $202,800 $202,800 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $136,100, and on account, $53,200. Collect on accounts receivable, $51,700. Receive cash in advance from customers, $13,100. Purchase supplies on account, $9,600. Pay property taxes, $8,700. Pay on accounts payable, $11,600. Pay salaries, $125,600. Issue shares of common stock in exchange for $29,000 cash. Pay $3,000 cash dividends to stockholders. ts 31 7. Prepare an adjusted trial balance. ZIPS STORAGE Adjusted Trial Balance December 31, 2024 Accounts Debit Credit Cash eBook Accounts Receivable Prepaid Insurance Print Supplies Land Accounts Payable ferences Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Property Tax Expense Salaries Expense Insurance Expense Supplies Expense Total $ 0 $ 0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!