The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Accounts Debits Credits
Cash $ 19,000
Accounts Receivable 7,800
Supplies 3,800
Equipment 14,000
Accumulated Depreciation $ 4,600
Salaries Payable 6,600
Common Stock 24,000
Retained Earnings 9,400
Totals $ 44,600 $ 44,600
The following is a summary of the transactions for the year:
1. March 12 Provide services to customers, $58,000, of which $20,800 is on account.
2. May 2 Collect on accounts receivable, $17,800.
3. June 30 Issue shares of common stock in exchange for $4,000 cash.
4. August 1 Pay salaries of $6,600 from 2020 (prior year).
5. September 25 Pay repairs and maintenance expenses, $12,800.
6. October 19 Purchase equipment for $7,800 cash.
7. December 30 Pay $1,200 cash dividends to stockholders.
Required:
1., 3. 6. & 10. 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.
2. Record each of the summary transactions listed above. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)
4. Prepare an unadjusted trial balance.
5. Record adjusting entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.)
7. Prepare an adjusted trial balance.
8-a. Prepare the income statement for the year ended December 31, 2018.
8-b. Prepare the classified balance sheet for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)
9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.)
11. Prepare a post-closing trial balance.

Blue computers, a major pc manufacturer in the united states, currently has plants in kentucky and pennsylvania. the kentucky plant has a capacity of 1 million units a year and the pennsylvania plant has a capacity of 1.5 million units a year. the firm divides the united states into five markets: northeast, southeast, midwest, south, and west. each pc sells for $1,000. the firm anticipates a 50 perc~nt growth in demand (in each region) this year (after which demand will stabilize) and wants to build a plant with a capacity of 1.5 million units per year to accommodate the growth. potential sites being considered are in north carolina and california. currently the firm pays federal, state, and local taxes on the income from each plant. federal taxes are 20 percent of income, and all state and local taxes are 7 percent of income in each state. north carolina has offered to reduce taxes for the next 10 years from 7 percent to 2 percent. blue computers would like to take the tax break into consideration when planning its network. consider income over the next 10 years in your analysis. assume that all costs remain unchanged over the 10 years. use a discount factor of 0.1 for your analysis. annual fixed costs, production and shipping costs per unit, and current regional demand (before the 50 percent growth) are shown in table 5-13. (a) if blue computers sets an objective of minimizing total fixed and variable costs, where should they build the new plant? how should the network be structured? (b) if blue computers sets an objective of maximizing after-tax profits, where should they build the new plant? how should the network be structured? variable production and shipping cost ($/unit) annual fixed cost northeast southeast midwest south west (million$) kentucky 185 180 175 175 200 150 pennsylvania 170 190 180 200 220 200 n. carolina 180 180 185 185 215 150 california 220 220 195 195 175 150 demand ('000 units/month) 700 400 400 300 600