Question: Required information Problem 3-9A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Zips Storage at January 1, 2021, includes
Required information Problem 3-9A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Zips Storage at January 1, 2021, includes the following account balance Credits Debits $ 26,300 17,100 15,400 165,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,400 7,500 160,000 47,900 $223,800 $223,800 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $151, 100, and on account, $60,700. 2. February 12 Collect on accounts receivable, $53,200. 3. April 25 Receive cash in advance from customers, $14,600. 4. May 6 Purchase supplies on account, $12,600. 5. July 15 Pay property taxes, $10,200. 6. September 10 Pay on accounts payable, $13, 100. 7. October 31 Pay salaries, $140,600. 8. November 20 Issue shares of common stock in exchange for $44,000 cash. 9. December 30 pay $4,500 cash dividends to stockholders. ! Required information ZIPS STORAGE Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash d OK Accounts Receivable Prepaid Insurance Supplies Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Property Tax Expense Salaries Expense Insurance Expense Supplies Expense Total ences $ 0 $ 0 Problem 3-9A Part 4 4. Prepare an unadjusted trial balance. ZIPS STORAGE
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
