Required information Problem 3-9B (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 Jackrabbit Rentals at January 1, 2024, includes the following account balances: Credits Accounts Cash Accounts Receivable Land Accounts Payable. Notes Payable (due in 2 years) Common Stock Retained Earnings Totals Debits $51,500 35,700 120,800 $208,000 The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 161 6. July 7 7. September 30 8. November 22 9. December 30- $16,300 40,000 110,000 41,700 $208,000 Provide services to customers on account, $72,400. Provide services to customers for cash, $80,300. Collect on accounts receivable, $46,700. Issue shares of common stock in exchange for $40,000 cash. Purchase supplies on account, $14, 100. Pay on accounts payable, $12,300. Pay salaries for employee work in the current year, $74,200. Pay advertising for the current year, $23,500. Pay $3,900 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $3,500 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $2,500 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $3,300.
Required information Problem 3-9B (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 Jackrabbit Rentals at January 1, 2024, includes the following account balances: Credits Accounts Cash Accounts Receivable Land Accounts Payable. Notes Payable (due in 2 years) Common Stock Retained Earnings Totals Debits $51,500 35,700 120,800 $208,000 The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 161 6. July 7 7. September 30 8. November 22 9. December 30- $16,300 40,000 110,000 41,700 $208,000 Provide services to customers on account, $72,400. Provide services to customers for cash, $80,300. Collect on accounts receivable, $46,700. Issue shares of common stock in exchange for $40,000 cash. Purchase supplies on account, $14, 100. Pay on accounts payable, $12,300. Pay salaries for employee work in the current year, $74,200. Pay advertising for the current year, $23,500. Pay $3,900 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $3,500 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $2,500 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $3,300.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Journal entry worksheet
<
2
Transaction
January 12
3
Note: Enter debits before credits.
Provide services to customers on account, $72,400.
Record entry
4
5 6
General Journal.
Clear entry
7 8 9
Debit
Credit
View general journal
>
![Required information
Problem 3-9B (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 Jackrabbit Rentals at January 1, 2024, includes the following account balances:
Credits
Accounts
Cash
Accounts Receivable
Land
Accounts Payable
Notes Payable (due in 2 years)
Common Stock
Retained Earnings
Totals
Debits
$51,500
35,700
120,800
$208,000
The following is a summary of the transactions for the year:
1. January 12
2. February 25
3. March 19
4. April 30
5. June 16
6. July 7
7. September 30
8. November 22
9. December 30
$16,300
40,000
110,000
41,700
$208,000
Provide services to customers on account, $72,400.
Provide services to customers for cash, $80,300.
Collect on accounts receivable, $46,700.
Issue shares of common stock in exchange for $40,000 cash.
Purchase supplies on account, $14,100.
Pay on accounts payable, $12,300.
Pay salaries for employee work in the current year, $74,200.
Pay advertising for the current year, $23,500.
Pay $3,900 cash dividends to stockholders.
The following information is available for the adjusting entries.
Accrued interest on the notes payable at year-end amounted to $3,500 and will be paid January 1, 2025. Accrued salaries
at year-end amounted to $2,500 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year
equal $3,300.
www](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5c9381f9-7528-463f-826e-03355b95ed82%2F3bdecffe-4e8b-49d2-bf6a-c27a651fbdda%2Fdmf91g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Problem 3-9B (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 Jackrabbit Rentals at January 1, 2024, includes the following account balances:
Credits
Accounts
Cash
Accounts Receivable
Land
Accounts Payable
Notes Payable (due in 2 years)
Common Stock
Retained Earnings
Totals
Debits
$51,500
35,700
120,800
$208,000
The following is a summary of the transactions for the year:
1. January 12
2. February 25
3. March 19
4. April 30
5. June 16
6. July 7
7. September 30
8. November 22
9. December 30
$16,300
40,000
110,000
41,700
$208,000
Provide services to customers on account, $72,400.
Provide services to customers for cash, $80,300.
Collect on accounts receivable, $46,700.
Issue shares of common stock in exchange for $40,000 cash.
Purchase supplies on account, $14,100.
Pay on accounts payable, $12,300.
Pay salaries for employee work in the current year, $74,200.
Pay advertising for the current year, $23,500.
Pay $3,900 cash dividends to stockholders.
The following information is available for the adjusting entries.
Accrued interest on the notes payable at year-end amounted to $3,500 and will be paid January 1, 2025. Accrued salaries
at year-end amounted to $2,500 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year
equal $3,300.
www
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