Please help me with correct answer thanku Required informationProblem 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:AccountsCashAccounts ReceivablePrepaid InsuranceLandAccounts PayableDeferred RevenueCommon StockRetained EarningsTotalsDebits$26,20017,00015,200164,0004. May 65. July 156. September 107. October 318. November 209. December 30Credits$8,3007,400159,00047,700$222,400 $222,400The following is a summary of the transactions for the year:1. January 92. February 123. April 25Provide storage services for cash, $150,100, and on account, $60,200.Collect on accounts receivable, $53,100.Receive cash in advance from customers, $14,500.Purchase supplies on account, $12,400.Pay property taxes, $10,100.Pay on accounts payable, $13,000.Pay salaries, $139,600.Issue shares of common stock in exchange for $43,000 cash.Pay $4,400 cash dividends to stockholders. 7. Prepare an adjusted trial balance.AccountsCashAccounts ReceivablePrepaid InsuranceSuppliesLandAccounts PayableDeferred RevenueCommon StockRetained EarningsDividendsService RevenueProperty Tax ExpenseSalaries ExpenseInsurance ExpenseSupplies ExpenseTotalAnswer is not complete.ZIPS STORAGEAdjusted Trial BalanceDecember 31, 2024Debit164,0004,400210,30010,100139,600Credit$ 153,800$15,200 X12,40017,100 X21,900 X47,700$ 528,400 $ 268,100

Trial balance is the statement that is used internally by the organizations in order to check any…

7. Prepare an adjusted trial balance. Accounts Cash 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 Answer is not complete. ZIPS STORAGE Adjusted Trial Balance December 31, 2024 Debit 164,000 4,400 210,300 10,100 139,600 Credit $ 153,800 X 15,200 X 12,400 17,100 21,900 47,700 $ 528,400 $ 268,100

7. Prepare an adjusted trial balance. Accounts Cash 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 Answer is not complete. ZIPS STORAGE Adjusted Trial Balance December 31, 2024 Debit 164,000 4,400 210,300 10,100 139,600 Credit $ 153,800 X 15,200 X 12,400 17,100 21,900 47,700 $ 528,400 $ 268,100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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