The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts...
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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 Debits $25,600 Credits 16,400 14,000 158,000 $7,700 6,800 153,000 46,500 $214,000 $214,000 Retained Earnings Totals 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, $144,100, and on account, $57,200. Collect on accounts receivable, $52,500. Receive cash in advance from customers, $13,900. Purchase supplies on account, $11,200. Pay property taxes, $9,500. Pay on accounts payable, $12,400. Pay salaries, $133,600. Issue shares of common stock in exchange for $37,000 cash. Pay $3,800 cash dividends to stockholders. Insurance expired during the year is $8,000. Supplies remaining on hand at the end of the year equal $3,900. Provide services of $12,800 related to cash paid in advance by customers. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 15 > Record the collection of accounts receivable, $52,500. Note: Enter debits before credits. General Journal Debit Credit 52,500 52,500 Date February 12 Cash Accounts Receivable View general journal Record entry Clear entry 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 Debits $25,600 Credits 16,400 14,000 158,000 $7,700 6,800 153,000 46,500 $214,000 $214,000 Retained Earnings Totals 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, $144,100, and on account, $57,200. Collect on accounts receivable, $52,500. Receive cash in advance from customers, $13,900. Purchase supplies on account, $11,200. Pay property taxes, $9,500. Pay on accounts payable, $12,400. Pay salaries, $133,600. Issue shares of common stock in exchange for $37,000 cash. Pay $3,800 cash dividends to stockholders. Insurance expired during the year is $8,000. Supplies remaining on hand at the end of the year equal $3,900. Provide services of $12,800 related to cash paid in advance by customers. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 15 > Record the collection of accounts receivable, $52,500. Note: Enter debits before credits. General Journal Debit Credit 52,500 52,500 Date February 12 Cash Accounts Receivable View general journal Record entry Clear entry
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Related Book For
Financial Accounting
ISBN: 978-1259307959
4th edition
Authors: David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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