Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

10. The unadjusted trial balance of Rapido Delivery is entered on the partial work sheet below. Complete the work sheet using the following information: (a)

image text in transcribed
10. The unadjusted trial balance of Rapido Delivery is entered on the partial work sheet below. Complete the work sheet using the following information: (a) Salaries earned by employees that are unpaid and unrecorded, $5,000. (b) An inventory of supplies showed $1,000 of unused supplies still on hand. (c) Depreciation on delivery vans, $24,000. (d) Services paid in advance by customers of $10,000 have now been provided to customers. Rapido Delivery Work Sheet For the year ended December 31 Adjustments Adjusted Trial Balance Account Income Statement Unadjusted Trial Ballance Balance sheet and Statement of Owner's Equity Debit Credit Credit Debit Credit Debit Credit Debit Credit Debit 70,000 10,000 3,000 120,000 48,000 15,000 20,000 Cash Accounts Receivable Supplies Delivery Vans Accum Depr.- Vans Accounts payable Unearned fees Salaries payable B.Rapid, Capital B. Rapid, Withdrawals Fees earned Salary expense Rent expense Supplies expense Depreciation expense Totals 55,000 50,000 320,000 177,000 28,000 458,000 458,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Financial System Reform In Eastern Europe And Asia

Authors: Robert W. McGee, Galina G. Preobragenskaya

2nd Edition

0387257098, 9780387257099

More Books

Students also viewed these Accounting questions