The general ledger of Zips Storage at January 1, 2021, includes the following account balances:AccountsDebitsCredits$ 26,680CashAccounts ReceivablePrepaid InsuranceLandAccounts PayableDeferred Revenue17,48016,88e168, 08e$ 8,7007,80e163, e0048,500Conmon StockRetained EarningsTatals$228, 080$228, 000The following is a summary of the transactions for the year:9 Provide storage services for cash, $154,100, and on account, $62, 200.1. Зaпиагy2. February 12 Collect on accounts receivable, $53,508.3. April4. May5. July6. September 10 Pay on accounts payable, $13,408.7. October8. Novenber 20 Issue shares of comman stock in cxchange for $47,000 cash.9. Decenber 38 Pay $4,880 cash dividends to stockholders.25 Receive cash in advance from custoners, $14,98e.6 Purchase supplies on account, $13, 200.15 Pay property taxes, $1e,5ee.31 Pay salaries, $143,60e.Insurance expired during the year is $9,000. Supplies remaining on hand at the end of the year equal $4,900. Provide services of$13,800 related to cash paid in advance by customers.GeneralGeneralIncomeRequirementTrial BalanceBalance SheetJourmalLedgerStatementChoose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balanceswill appear for each account, based on your selection.AdjustedZipe StorageIncome statementFor the Year Ended December 31, 2021Revenues:Sales RevenueTatal RevenuesExpensesTatal Expenses( Trlal BalanceBalance Sheet >

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Description: The general ledger of Zips Storage at January 1, 2021, includes the following account balances:AccountsDebitsCredits$ 26,680CashAccounts ReceivablePrepaid InsuranceLandAccounts PayableDeferred Revenue17,48016,88e168, 08e$ 8,7007,80e163, e0048,500Con

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The general ledger of Zips Storege ot January 1, 2021, includes the following sccount balances: Accounts Debits Credits S 26,68e 17,480 16,8ee 168,8ee Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Conmon Stock $ 8,700 7,88e 163,800 48,500 Retained Earnings Totals $228, 8ee $228, e0e The following is o summary of the transsctions for the year. 1. January 2. February 12 collect on acounts receivable, $53,58e. 3. April 9 Provide storage services for cash, $154,10e, and on account, $62,20e. 25 Receive cash in advance from customers, $14,98e. 6 Purchase supplies on account, $13,20e. 15 Pay property taxes, $10,see. 4. May 5. July 6. September 1e Pay on accounts payable, s13,488. 7. October 8. Novenber 28 Issue shares of common stock in exchange for $47,eee cash. 9. Decenber 38 Pay $4,8ee cash dividends to stockholders. 31 Pay salaries, s143,60e. Insurance expired during the yesr is $9,000. Supplies remaining on hand et the end of the year equal $4,900. Provide services of $13,800 related to cash paid in advance by customers.

The general ledger of Zips Storege ot January 1, 2021, includes the following sccount balances: Accounts Debits Credits S 26,68e 17,480 16,8ee 168,8ee Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Conmon Stock $ 8,700 7,88e 163,800 48,500 Retained Earnings Totals $228, 8ee $228, e0e The following is o summary of the transsctions for the year. 1. January 2. February 12 collect on acounts receivable, $53,58e. 3. April 9 Provide storage services for cash, $154,10e, and on account, $62,20e. 25 Receive cash in advance from customers, $14,98e. 6 Purchase supplies on account, $13,20e. 15 Pay property taxes, $10,see. 4. May 5. July 6. September 1e Pay on accounts payable, s13,488. 7. October 8. Novenber 28 Issue shares of common stock in exchange for $47,eee cash. 9. Decenber 38 Pay $4,8ee cash dividends to stockholders. 31 Pay salaries, s143,60e. Insurance expired during the yesr is $9,000. Supplies remaining on hand et the end of the year equal $4,900. Provide services of $13,800 related to cash paid in advance by customers.

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 15P: Comprehensive Receivables Problem Blackmon Corporations December 31, 2018, balance sheet disclosed...

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