The accounts in the ledger of Rapid Delivery Service contain the following balances on July 31, 2017.
Question:
The accounts in the ledger of Rapid Delivery Service contain the following balances on July 31, 2017. LO9 Accounts Receivable $13,400 Prepaid Insurance $ 2,200 Accounts Payable 8,400 Service Revenue 15,500 Cash ? Dividends 700 Equipment 59,360 Common Stock 40,000 Maintenance and Salaries and Wages Expense 7,428 Repairs Expense 1,958 Salaries and Wages Payable 820 Insurance Expense 900 Retained Earnings (July 1, 2017) 5,200 Notes Payable (due 2020) 28,450 Instructions
(a) Prepare a trial balance with the accounts arranged as illustrated in the chapter, and fi ll in the missing amount for Cash.
(b) Prepare an income statement, a retained earnings statement, and a classifi ed balance sheet for the month of July 2017.
Step by Step Answer:
Financial Accounting
ISBN: 9781118953907
8th Edition
Authors: Paul D Kimmel, Jerry J Weygandt, Donald E Kieso