Question
Question Two: (10 Points) The accounts of Deluxe service, Inc., follow with their normal balanced at June 30, 2010. The accounts are listed in no
Question Two: (10 Points)
The accounts of Deluxe service, Inc., follow with their normal balanced at June 30, 2010. The accounts are listed in no particular order.
Accounts
Balance
Accounts
Balance Tax Expense 12,000 Supplies Expense 7,000 Accounts Receivable 50,000 Salaries Payable 5,000 Share capital 50,000 Supplies 1,100 Accounts Payable 17,000 Interest Payable 3,000 Notes payable 39,000 Cash ?
Equipment 60,800 Interest Expense 3,000 Utilities Expense 6,000 Salaries Expense 30,000 Dividends 1,100 Retained Earnings 35,000 Service Revenue
65,000 Notes Receivables 3,000
Required:
1. Prepare the company's trial balance at June 30, 2010 with arranging the accounts and fill in the missing amount for the Cash.
2. Calculate the total liabilities.
3. Calculate the Ending retained earnings.
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