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 Debits $25,600 16,400 14,000 158,000 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Credits $7,700 6,800 153,000 46,500 $214,000 Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $214,000 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 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.
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 Debits $25,600 16,400 14,000 158,000 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Credits $7,700 6,800 153,000 46,500 $214,000 Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $214,000 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PLEASE HELP ME
![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:
Credits
Accounts
Cash
Accounts Receivable.
Prepaid Insurance.
Land
Accounts Payable.
Deferred Revenue
Common Stock
Retained Earnings
Totals
Debits
$25,600
16,400
14,000
158,000
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
$7,700
6,800
153,000
46,500
$214,000 $214,000
The following is a summary of the transactions for the year:
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2696f95-227f-46e7-abd0-f9ae38c48970%2F7c0f483c-0de3-45d4-a720-743f00a6048d%2F9xfil9e_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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:
Credits
Accounts
Cash
Accounts Receivable.
Prepaid Insurance.
Land
Accounts Payable.
Deferred Revenue
Common Stock
Retained Earnings
Totals
Debits
$25,600
16,400
14,000
158,000
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
$7,700
6,800
153,000
46,500
$214,000 $214,000
The following is a summary of the transactions for the year:
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.
Transcribed Image Text:11. Prepare a post-closing trial balance.
Totals
ZIPS STORAGE
Post-Closing Trial Balance
December 31, 2024
Accounts
$
Debit
0 $
Credit
0
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