Question
Prepare the Adjusted Trial Balance of Daily Drive, Inc. For the year ended December 31 Income statement preparation using the balances from Adjusted Trial Balance,
- Prepare the Adjusted Trial Balance of Daily Drive, Inc. For the year ended December 31
- Income statement preparation using the balances from Adjusted Trial Balance, complete the Income Statement of Daily Driver's, Inc. For the year ended, December 31
- Statement of Retained Earnings using the balances from.the Adjusted Trial Balance Drive Inc. For the year ended, December 31
- Using the balances from the Adjusted Trial Balance to, complete the Balance Sheet of Daily Driver's, Inc. As of December 31
- Prepare a closing Journal Entry for the Income Statment accounts of Daily Driver's, Inc
- Prepare the Post-closing Trial of Daily Driver's,Inc at December 31
Daily Drive, INC.
Unadjusted Trial Balance
Account Name Dr Cr
Cash $1000
Supplies 50
Prepaid Insurance 1,200
Equipment 40,000
Accumulated
Depreciation $2,400
Salaries and Wages 0
Income Tax Payable 0
Common Stock 25,000
Retained Earnings 5,430
Service Revenue 19,510
Salaries and Wages
Expenses 8,800
Supplies Expense 0
Depreciation Expense 0
Insurance Expense 1,250
Fuel Expense 0
Income Tax Expense 52,400 52,400
Daily Driver's Inc. Unadjusted Trial Balance At Dec 31 Account Name Dr Cr Cash $1000 Supplies 50 Prepaid Insurance 1200 Equipment 40,000 Accumulated Depreciation 2,400 Salaries and Wages Payable 0 Income Tax Payable 0 Common Stock 25,000 Retained Earnings 5,430 Service Revenue 19,570 Salaries and Wages Expense 8,800 Supplies Expense 100 Depreciation Expense 0 Insurance Expense 0 Fuel Expense 1,250 Income Tax Expense 0
Use the notes to determine aND record adusting entries needed on Dec. 31 for(a) Supplies Used up, (b) Insurance costs, (c) using up the cars benefits , (d) Salarms not yet acounted for, and (e) income tax for the year.
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