Homework Help is Here – Start Your Trial Now!
Business
Accounting
The general ledger of Black Cloud Cleaners at January 1, 2024, includes the following account balances: Accounts Credits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals 1. March 12 2. May 2 3. June 30 Debits $ 10,000 6,000 2,000 20,000 The following is a summary of the transactions for the year: 4. August 1 5. September 25 6. October 19 7. December 30 $ 7,000 9,500 15,000 6,500 $ 38,000 $38,000 Provide services to customers, $40,000, of which $19,000 is on account. Collect on accounts receivable, $16,000. Issue shares of common stock in exchange for $6,000 cash. Pay salaries of $9,500 from 2023 (prior year). Pay repairs and maintenance expenses, $11,000. Purchase equipment for $6,000 cash. Pay $1,200 cash dividends to stockholders.

The general ledger of Black Cloud Cleaners at January 1, 2024, includes the following account balances: Accounts Credits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals 1. March 12 2. May 2 3. June 30 Debits $ 10,000 6,000 2,000 20,000 The following is a summary of the transactions for the year: 4. August 1 5. September 25 6. October 19 7. December 30 $ 7,000 9,500 15,000 6,500 $ 38,000 $38,000 Provide services to customers, $40,000, of which $19,000 is on account. Collect on accounts receivable, $16,000. Issue shares of common stock in exchange for $6,000 cash. Pay salaries of $9,500 from 2023 (prior year). Pay repairs and maintenance expenses, $11,000. Purchase equipment for $6,000 cash. Pay $1,200 cash dividends to stockholders.

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
Topic Video
Question

Please do not give solution in image format thanku 

Prepare an adjusted trial balance. BLACK CLOUD CLEANERS Adjusted Trial Balance December 31, 2024 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals $ Debit 0 $ Credit 0
Transcribed Image Text:Prepare an adjusted trial balance. BLACK CLOUD CLEANERS Adjusted Trial Balance December 31, 2024 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals $ Debit 0 $ Credit 0
The general ledger of Black Cloud Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals 1. March 12 2. May 2 3. June 30 Debits $ 10,000 6,000 2,000 20,000 4. August 1 5. September 25 6. October 19 7. December 30 Credits The following is a summary of the transactions for the year: $ 7,000 9,500 15,000 6,500 $ 38,000 $ 38,000 Provide services to customers, $40,000, of which $19,000 is on account. Collect on accounts receivable, $16,000. Issue shares of common stock in exchange for $6,000 cash. Pay salaries of $9,500 from 2023 (prior year). Pay repairs and maintenance expenses, $11,000. Purchase equipment for $6,000 cash. Pay $1,200 cash dividends to stockholders.
Transcribed Image Text:The general ledger of Black Cloud Cleaners at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals 1. March 12 2. May 2 3. June 30 Debits $ 10,000 6,000 2,000 20,000 4. August 1 5. September 25 6. October 19 7. December 30 Credits The following is a summary of the transactions for the year: $ 7,000 9,500 15,000 6,500 $ 38,000 $ 38,000 Provide services to customers, $40,000, of which $19,000 is on account. Collect on accounts receivable, $16,000. Issue shares of common stock in exchange for $6,000 cash. Pay salaries of $9,500 from 2023 (prior year). Pay repairs and maintenance expenses, $11,000. Purchase equipment for $6,000 cash. Pay $1,200 cash dividends to stockholders.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Equation
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