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The general ledger of Green Stream Cleaners at January 1, 2024, includes the following account balances: Debits $ 11,000 6,200 2, 200 19,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation. Salaries Payable Common Stock Retained Earnings Totals The following is a summary of the transactions for the year: 1. March 12 2. May 2 3. June 30 4. August 1 5. September 25 6. October 19 Credits $ 6,600 9,100 16,000 6,700 $ 38,400 $ 38, 400 Provide services to customers, $42, 000, of which $19, 200 is on account. Collect on accounts receivable, $16, 200. Issue shares of common stock in exchange for $5,000 cash. Pay salaries of $9,100 from 2023 (prior year). General Pay repairs and maintenance expenses, $11, 200. Purchase equipment for $6,200 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,500. Depreciation for the year on the equipment is $3,200. Office supplies rem on hand at the end of the year equal $1,200.

The general ledger of Green Stream Cleaners at January 1, 2024, includes the following account balances: Debits $ 11,000 6,200 2, 200 19,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation. Salaries Payable Common Stock Retained Earnings Totals The following is a summary of the transactions for the year: 1. March 12 2. May 2 3. June 30 4. August 1 5. September 25 6. October 19 Credits $ 6,600 9,100 16,000 6,700 $ 38,400 $ 38, 400 Provide services to customers, $42, 000, of which $19, 200 is on account. Collect on accounts receivable, $16, 200. Issue shares of common stock in exchange for $5,000 cash. Pay salaries of $9,100 from 2023 (prior year). General Pay repairs and maintenance expenses, $11, 200. Purchase equipment for $6,200 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,500. Depreciation for the year on the equipment is $3,200. Office supplies rem on hand at the end of the year equal $1,200.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The general ledger of Green Stream 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 4. August 1 5. September 25 6. October 19 Debits $ 11,000 6,200 2, 200 19,000 The following is a summary of the transactions for the year: 1. March 12 2. May 2 3. June 30 General Credits $ 6,600 9,100 16,000 6,700 $ 38,400 $ 38, 400 Provide services to customers, $42, 000, of which $19, 200 is on account. Collect on accounts receivable, $16, 200. Issue shares of common stock in exchange for $5,000 cash. Pay salaries of $9,100 from 2023 (prior year). Pay repairs and maintenance expenses, $11,200. Purchase equipment for $6,200 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,500. Depreciation for the year on the equipment is $3,200. Office supplies rem on hand at the end of the year equal $1,200.
Transcribed Image Text:The general ledger of Green Stream 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 4. August 1 5. September 25 6. October 19 Debits $ 11,000 6,200 2, 200 19,000 The following is a summary of the transactions for the year: 1. March 12 2. May 2 3. June 30 General Credits $ 6,600 9,100 16,000 6,700 $ 38,400 $ 38, 400 Provide services to customers, $42, 000, of which $19, 200 is on account. Collect on accounts receivable, $16, 200. Issue shares of common stock in exchange for $5,000 cash. Pay salaries of $9,100 from 2023 (prior year). Pay repairs and maintenance expenses, $11,200. Purchase equipment for $6,200 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $19,500. Depreciation for the year on the equipment is $3,200. Office supplies rem on hand at the end of the year equal $1,200.
1 2 3 4 S 6 2 R U 20 March 12 May 02 June 30 August 01 September 25 October 19 December 30 December 31 Decenter 31 Service Revenue Accounts Receivable Accounts Receivable Cash Common Stock Salanes Expense Salanes Payable Repairs and Maintenance Expense Accounts Payable Equipment Dividends Cash Salates Expense Salanes Payable Accumulated Depreciation Depreciation Expense Supplies Expense Supples ** Ⓡ 0 00 Ceneral Ledger> 00 00 00 00 00 00 00 Debit 42,000 16,200 5,000 9,100 11,200 6,200 1,000-> 19,500 3.200 1.200 Ⓒ < Prev Chedil 19,200 5,000- 9,100 11,200 6,200->> 1,000 Ⓒ 19,500 3.200 1.200 O 7 or 8 M Next >>
Transcribed Image Text:1 2 3 4 S 6 2 R U 20 March 12 May 02 June 30 August 01 September 25 October 19 December 30 December 31 Decenter 31 Service Revenue Accounts Receivable Accounts Receivable Cash Common Stock Salanes Expense Salanes Payable Repairs and Maintenance Expense Accounts Payable Equipment Dividends Cash Salates Expense Salanes Payable Accumulated Depreciation Depreciation Expense Supplies Expense Supples ** Ⓡ 0 00 Ceneral Ledger> 00 00 00 00 00 00 00 Debit 42,000 16,200 5,000 9,100 11,200 6,200 1,000-> 19,500 3.200 1.200 Ⓒ < Prev Chedil 19,200 5,000- 9,100 11,200 6,200->> 1,000 Ⓒ 19,500 3.200 1.200 O 7 or 8 M Next >>
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