Answer Happy

Posted: **Tue Jul 05, 2022 11:49 am**

: Required Information Problem 3 9a Algo Complete The Full Accounting Cycle Lo3 3 3 4 3 5 3 6 3 7 The Following I 1 (52.84 KiB) Viewed 11 times

: Required Information Problem 3 9a Algo Complete The Full Accounting Cycle Lo3 3 3 4 3 5 3 6 3 7 The Following I 2 (35.08 KiB) Viewed 11 times

: Required Information Problem 3 9a Algo Complete The Full Accounting Cycle Lo3 3 3 4 3 5 3 6 3 7 The Following I 3 (35.39 KiB) Viewed 11 times

: Required Information Problem 3 9a Algo Complete The Full Accounting Cycle Lo3 3 3 4 3 5 3 6 3 7 The Following I 4 (32.73 KiB) Viewed 11 times

Required information 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 Accounts Payable Deferred Revenue. Common Stock Retained Earnings Totals Debits $26,000 16,800 14,800 162,000 Credits $8,100 7,200 157,000 47,300 $219,600 $219,600 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 October 31 7. 8. November 20 9. December 30 Provide storage services for cash, $148, 100, and on account, $59,200. Collect on accounts receivable, $52,900. Receive cash in advance from customers, $14,300. Purchase supplies on account, $12,000. Pay property taxes, $9,900. Pay on accounts payable, $12,800. Pay salaries, $137,600. Issue shares of common stock in exchange for $41,000 cash. Pay $4,200 cash dividends to stockholders. Problem 3-9A (Algo) Part 9 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the fi
9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 3 < 1 2 Record the entry to close the revenue accounts. Note: Enter debits before credits. Transaction December 31 Service Revenue Record entry General Journal Clear entry Debit 207,300 6 Credit View general journal 18 8 of 8 Next >
Journal entry worksheet < 1 2 Record the entry to close the expense accounts. Transaction December 31 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal Next
9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 2 Record the entry to close the dividends account. Transaction December 31 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal