Business, 06.04.2021 03:20 lisaboden1701

The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Debits Credits
Cash $3,800
Accounts Receivable 8,800
Supplies 2,800
Equipment 22,000
Accumulated Depreciation $5,200
Accounts Payable 3,200
Utilities Payable 4,200
Deferred Revenue 0
Common Stock 16,000
Retained Earnings 8,800
Totals $37,400 $37,400

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

1. January 24 Provide plumbing services for cash, $13,000, and on account, $58,000.
2. March 13 Collect on accounts receivable, $46,000.
3. May 6 Issue shares of common stock in exchange for $12,000 cash.
4. June 30 Pay salaries for the current year, $31,600.
5. September 15 Pay utilities of $4,200 from 2020 (prior year).
6. November 24 Receive cash in advance from customers, $7,200.
7. December 30 Pay $1,600 cash dividends to stockholders.

Required:
Prepare each of the summary transactions listed above.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 11:30, Merida06

12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill. student a incorrect which is correct answer?

Answers: 2

continue

Business, 22.06.2019 16:00, knownperson233

In macroeconomics, to study the aggregate means to study blank

Answers: 1

continue

Business, 22.06.2019 21:10, cece3467

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is:

Answers: 3

continue

Business, 23.06.2019 07:30, ykluhredd

The uk economic climate is important for pod point. it is considering two options to reduce the impact of falling uk consumer incomes on sales: 1. focus on selling to foreign countries. or 2. cut costs of production. justify which one of these two options pod point should choose

Answers: 1

continue

You know the right answer?

The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:...