Please don't provide answer in image format thank you. 18AccountsCashAccounts Receivable.Prepaid InsuranceLandAccounts PayableDeferred RevenueCommon StockRetained EarningsTotals1. January 92. February 123. April 254. May 65. July 156. September 107. October 318. November 209. December 30The following is a summary of the transactions for the year:AccountsCashAccounts ReceivablePrepaid InsuranceSuppliesLandAccounts Payable.Deferred Revenue7. Prepare an adjusted trial balance.Common StockRetained EarningsDividendsService RevenueProperty Tax ExpenseSalaries ExpenseInsurance ExpenseProvide storage services for cash, $139, 100, and on account, $54,700Collect on accounts receivable, $52,000.Receive cash in advance from customers, $13,400.Purchase supplies on account, $10,200.Pay property taxes, $9,000.Pay on accounts payable, $11,900.Pay salaries, $128,600.ZIPS STORAGEAdjusted Trial BalanceDecember 31, 2024Debits Credits$25,10015,90013,000153,000Issue shares of common stock in exchange for $32,000 cash.Pay $3,300 cash dividends to stockholders.148,00045,500$207,000 $207,000Answer is not complete.Debit$ 108,80018,60013,000 X10,200 x153,0003,3009,000128,600$$7,2006,300Credit5,50019,700 x180,00045,500193,800

At the end of the accounting period, the trial balance is created. The adjusted trial balance…

Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $25,100 15,900 13,000 153,000 Credits $7,200 6,300 148,000 45,500 $207,000 $207,000 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $139, 100, and on account, $54,700 Collect on accounts receivable, $52,000. Receive cash in advance from customers, $13,400. Purchase supplies on account, $10,200. Pay property taxes, $9,000. Pay on accounts payable, $11,900. Pay salaries, $128,600. Issue shares of common stock in exchange for $32,000 cash. Pay $3,300 cash dividends to stockholders.

Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $25,100 15,900 13,000 153,000 Credits $7,200 6,300 148,000 45,500 $207,000 $207,000 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $139, 100, and on account, $54,700 Collect on accounts receivable, $52,000. Receive cash in advance from customers, $13,400. Purchase supplies on account, $10,200. Pay property taxes, $9,000. Pay on accounts payable, $11,900. Pay salaries, $128,600. Issue shares of common stock in exchange for $32,000 cash. Pay $3,300 cash dividends to stockholders.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 12SPA: SCHEDULE OF ACCOUNTS RECEIVABLE Based on the information provided in Problem 10-11A, prepare a...

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