The general ledger of Red Storm Cleaners at January 1, 2015, includes the following account balances: AccountsDebitsCredits
Cash$13,500
Accounts Receivable 6,700
Supplies 2,700
Equipment 16,500
Accumulated Depreciation $5,600
Salaries Payable 8,100
Common Stock 18,500
Retained Earnings 7,200
Totals$39,400 $39,400
The following is a summary of the transactions for the year:
a. Sales of services, $47,000, of which $19,700 is on account.
b. Collect on accounts receivable, $16,700.
c. Issue shares of common stock in exchange for $6,000 cash.
d. Pay salaries, $24,700 (of which $8,100 is for salaries payable in 2014).
e. Pay repairs and maintenance expenses, $11,700.
f. Purchase equipment for $6,700 cash.
g. Pay $1,100 cash dividends to stockholders.
2. Record each of the summary transactions listed above.

4. Prepare an unadjusted trial balance.

Record adjusting entries. Accrued salaries at year-end amounted to $1,100. Depreciation for the year on the equipment is $3,700. Office supplies remaining on hand at the end of the year equal $1,000.

7. Prepare an adjusted trial balance.

8-a.

Prepare the income statement for the year ended December 31, 2015.

8-b. Prepare the classified balance sheet for the year ended December 31, 2015.

9. Record closing entries.

11. Prepare a post-closing trial balance.