Required information [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 Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $25,700 Credits 16,500 14,200 159,000 $7,800 6,900 154,000 46,700 $215,400 $215,400 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, $145,100, and on account, $57,700. Collect on accounts receivable, $52,600. Receive cash in advance from customers, $14,000. Purchase supplies on account, $11,400. Pay property taxes, $9,600. Pay on accounts payable, $12,500. Pay salaries, $134,600. Issue shares of common stock in exchange for $38,000 cash. Pay $3,900 cash dividends to stockholders. 4. Prepare an unadjusted trial balance. Accounts Cash Accounts Receivable Prepaid Insurance Supplies Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Property Tax Expense Salaries Expense Insurance Expense Supplies Expense Totals ZIPS STORAGE Unadjusted Trial Balance December 31, 2024 Debit Credit $ 0 $ 0
Required information [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 Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $25,700 Credits 16,500 14,200 159,000 $7,800 6,900 154,000 46,700 $215,400 $215,400 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, $145,100, and on account, $57,700. Collect on accounts receivable, $52,600. Receive cash in advance from customers, $14,000. Purchase supplies on account, $11,400. Pay property taxes, $9,600. Pay on accounts payable, $12,500. Pay salaries, $134,600. Issue shares of common stock in exchange for $38,000 cash. Pay $3,900 cash dividends to stockholders. 4. Prepare an unadjusted trial balance. Accounts Cash Accounts Receivable Prepaid Insurance Supplies Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Property Tax Expense Salaries Expense Insurance Expense Supplies Expense Totals ZIPS STORAGE Unadjusted Trial Balance December 31, 2024 Debit Credit $ 0 $ 0
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 14P: Analyzing Accounts Receivable Upham Companys June 30, 2019, balance sheet included the following...
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![Required information
[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
Accounts Payable
Deferred Revenue
Common Stock
Retained Earnings
Totals
Debits
$25,700
Credits
16,500
14,200
159,000
$7,800
6,900
154,000
46,700
$215,400
$215,400
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, $145,100, and on account, $57,700.
Collect on accounts receivable, $52,600.
Receive cash in advance from customers, $14,000.
Purchase supplies on account, $11,400.
Pay property taxes, $9,600.
Pay on accounts payable, $12,500.
Pay salaries, $134,600.
Issue shares of common stock in exchange for $38,000 cash.
Pay $3,900 cash dividends to stockholders.
4. Prepare an unadjusted trial balance.
Accounts
Cash
Accounts Receivable
Prepaid Insurance
Supplies
Land
Accounts Payable
Deferred Revenue
Common Stock
Retained Earnings
Dividends
Service Revenue
Property Tax Expense
Salaries Expense
Insurance Expense
Supplies Expense
Totals
ZIPS STORAGE
Unadjusted Trial Balance
December 31, 2024
Debit
Credit
$
0 $
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F71d50483-c89b-492e-bebe-fcb06f2dad41%2F4b115486-1a91-4289-ae2b-b9c313f252fb%2Fmmy7o6p_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[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
Accounts Payable
Deferred Revenue
Common Stock
Retained Earnings
Totals
Debits
$25,700
Credits
16,500
14,200
159,000
$7,800
6,900
154,000
46,700
$215,400
$215,400
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, $145,100, and on account, $57,700.
Collect on accounts receivable, $52,600.
Receive cash in advance from customers, $14,000.
Purchase supplies on account, $11,400.
Pay property taxes, $9,600.
Pay on accounts payable, $12,500.
Pay salaries, $134,600.
Issue shares of common stock in exchange for $38,000 cash.
Pay $3,900 cash dividends to stockholders.
4. Prepare an unadjusted trial balance.
Accounts
Cash
Accounts Receivable
Prepaid Insurance
Supplies
Land
Accounts Payable
Deferred Revenue
Common Stock
Retained Earnings
Dividends
Service Revenue
Property Tax Expense
Salaries Expense
Insurance Expense
Supplies Expense
Totals
ZIPS STORAGE
Unadjusted Trial Balance
December 31, 2024
Debit
Credit
$
0 $
0
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