calculating the unadjusted trial balancefor he general ledger of Zips Storage at January 1, 2024, includes the following account balances: AccountsDebitsCreditsCash$26,400 Accounts Receivable17,200 Prepaid Insurance15,600 Land166,000 Accounts Payable $8,500Deferred Revenue 7,600Common Stock 161,000Retained Earnings 48,100Totals$225,200$225,200 The following is a summary of the transactions for the year: 1. January 9Provide storage services for cash, $152,100, and on account, $61,200.2. February 12Collect on accounts receivable, $53,300.3. April 25Receive cash in advance from customers, $14,700.4. May 6Purchase supplies on account, $12,800.5. July 15Pay property taxes, $10,300.6. September 10Pay on accounts payable, $13,200.7. October 31Pay salaries, $141,600.8. November 20Issue shares of common stock in exchange for $45,000 cash.9. December 30Pay $4,600 cash dividends to stockholders.

If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…

Answered: calculating the unadjusted trial…

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...

Related questions

Question

calculating the unadjusted trial balance

for

he general ledger of Zips Storage at January 1, 2024, includes the following account balances:

The following is a summary of the transactions for the year:

1. January 9	Provide storage services for cash, $152,100, and on account, $61,200.
2. February 12	Collect on accounts receivable, $53,300.
3. April 25	Receive cash in advance from customers, $14,700.
4. May 6	Purchase supplies on account, $12,800.
5. July 15	Pay property taxes, $10,300.
6. September 10	Pay on accounts payable, $13,200.
7. October 31	Pay salaries, $141,600.
8. November 20	Issue shares of common stock in exchange for $45,000 cash.
9. December 30	Pay $4,600 cash dividends to stockholders.