Question
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
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