where are the t-accounts charts? that literally the first part to this problem. The general ledger...

where are the t-accounts charts? that literally the first part to this problem.

The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account balances:

Accounts	Debits		Credits
Cash	$	14,000
Accounts Receivable		6,800
Supplies		2,800
Equipment		16,000
Accumulated Depreciation			$	5,400
Salaries Payable				7,900
Common Stock				19,000
Retained Earnings				7,300

Totals	$	39,600	$	39,600

The following is a summary of the transactions for the year:

March 12 Provide services to customers, $48,000, of which $19,800 is on account.
May 2 Collect on accounts receivable, $16,800.
June 30 Issue shares of common stock in exchange for $5,000 cash.
August 1 Pay salaries, $24,800 (of which $7,900 is for salaries payable in 2017).
September 25 Pay repairs and maintenance expenses, $11,800.
October 19 Purchase equipment for $6,800 cash.
December 30 Pay $1,000 cash dividends to stockholders.
Accrued salaries at year-end amounted to $1,000. Depreciation for the year on the equipment is $3,800. Office supplies remaining on hand at the end of the year equal $1,200.

1. Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts.

Expert Solution

ekkarill92 answered 8 months ago

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