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Daily Driver, Incorporated (DDI), operates a driving service through a popular ride-sharing app. DDI has prepared a list of unadjusted account balances at its
Daily Driver, Incorporated (DDI), operates a driving service through a popular ride-sharing app. DDI has prepared a list of unadjusted account balances at its December 31 year-end. You have reviewed the balances and made notes shown in the right column. DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Debit Credit Notes $1,600 170 Account Name Cash Supplies Prepaid Insurance 1,800 Equipment Accumulated Depreciation Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue 64,000 Salaries and Wages Expense 11,200 Supplies Expense 220 This equals the bank balance. Only windshield washer fluid that cost $30 remains at December 31. This amount was paid January 2 for car insurance from January 1 through December 31 of this year. This is the car's purchase price. $3,840 The car will be two years old at the end of December. 0 DDI has not yet paid or recorded $1,040 of salary for December. 0 DDI paid all its taxes from last year. 37,000 DDI issued 7,400 shares at $5 each. 6,030 This is the total accumulated earnings to January 1 of this year. 33,970 All revenue is received in cash when the service is given. DDI's only employee receives a salary of $1,040 for December. This is the cost of windshield washer fluid used to November < Prev 3 of 11 Next >
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