Problem 3-9A (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Debits $25,600 16,400 14,000 158,000 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Credits $7,700 6,800 153,000 46,500 $214,000 Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $214,000 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 Provide storage services for cash, $144,100, and on account, $57,200. Collect on accounts receivable, $52,500. Receive cash in advance from customers, $13,900. Purchase supplies on account, $11,200. Pay property taxes, $9,500. Pay on accounts payable, $12,400. Pay salaries, $133,600. Issue shares of common stock in exchange for $37,000 cash. Pay $3,800 cash dividends to stockholders.
Problem 3-9A (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Debits $25,600 16,400 14,000 158,000 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Credits $7,700 6,800 153,000 46,500 $214,000 Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $214,000 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 Provide storage services for cash, $144,100, and on account, $57,200. Collect on accounts receivable, $52,500. Receive cash in advance from customers, $13,900. Purchase supplies on account, $11,200. Pay property taxes, $9,500. Pay on accounts payable, $12,400. Pay salaries, $133,600. Issue shares of common stock in exchange for $37,000 cash. Pay $3,800 cash dividends to stockholders.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 13SPA: SCHEDULE OF ACCOUNTS RECEIVABLE Based on the information provided in Problem 10-12A, prepare a...
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