Homework Help is Here – Start Your Trial Now!
Business
Accounting
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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please help me with correct answer thanku 

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 $26,200 17,000 15,200 164,000 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Credits $8,300 7,400 159,000 47,700 $222,400 $222,400 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 Provide 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.
Transcribed Image Text: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 $26,200 17,000 15,200 164,000 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Credits $8,300 7,400 159,000 47,700 $222,400 $222,400 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 Provide 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. 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 $ 15,200 X 12,400 17,100 X 21,900 X 47,700 $ 528,400 $ 268,100
Transcribed Image Text: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 $ 15,200 X 12,400 17,100 X 21,900 X 47,700 $ 528,400 $ 268,100
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Methods of accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS