8-b. Prepare the classified balance sheet for the year ended December 31, 2024. Journal entry...

70.2K

Verified Solution

Question

Accounting

image
image
image
image
image
image
image
8-b. Prepare the classified balance sheet for the year ended December 31, 2024. Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. Required information 8-o. Prepare the income statement for the year ended December 31, 2024. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. The general ledger of Zips Storage at January 1. 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. January 9 2. Tebruary 12 3. April 25 4. May 6 5. July 15 6. September 18 7. Detober 31 8. Novinber 20 9. Decenber 39 Provide storage services for cash, $147,100, and on account, $58,700. Collect on accounts receivable, $52,800. Receive cash in advance from custoeters, $14,200. Purchase supplies on account, $11,800. Pay property taxes, \$9,809. Pay on accounts payable, $12,700. Pay salaries, $136,600. Issue shares of comin stock in exchange fon $40,000 cash. Pay 54,100 cash dividends to stockholders. 7. Prepare an adjusted trial balance. Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. Required information 8-o. Prepare the income statement for the year ended December 31, 2024. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. The general ledger of Zips Storage at January 1. 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. January 9 2. Tebruary 12 3. April 25 4. May 6 5. July 15 6. September 18 7. Detober 31 8. Novinber 20 9. Decenber 39 Provide storage services for cash, $147,100, and on account, $58,700. Collect on accounts receivable, $52,800. Receive cash in advance from custoeters, $14,200. Purchase supplies on account, $11,800. Pay property taxes, \$9,809. Pay on accounts payable, $12,700. Pay salaries, $136,600. Issue shares of comin stock in exchange fon $40,000 cash. Pay 54,100 cash dividends to stockholders. 7. Prepare an adjusted trial balance. Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students