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Required information The following information applies to the questions displayed below. Daily Driver, Incorporated (DDI), operates a driving service through a popular ride-sharing app. DDi
Required information The following information applies to the questions displayed below. 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 Account Name Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Debit Credit Notes $ 1,050 This equals the bank balance 60 Only windshield washer fluid that cost $30 remains at December 31. 1,250 This amount was paid January 2 for car insurance from January 1 through December 31 of this year. 42,000 This is the car's purchase price. $ 2,520 The car will be two years old at the end of December DDT has not yet paid or recorded $820 of salary for December. DDI paid all its taxes from last year 26,000 DDI issued 5,200 shares at $5 each. 5,480 This is the total accumulated earnings to January 1 of this year. 20,770 All revenue is received in cash when the service is given. 9,00 DDI's only employee receives a salary of $82e for December. 110 This is the cost of windshield washer fluid used to November 30. The car's benefits are being used up about $2,520 per year. No car insurance has been paid for next year 1,300 All fuel is paid for in cash. DDI's tax rate is zek of income before tax. $ 54,770 $ 54,770 Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Insurance Expense Fuel Expense Income Tax Expense Totals Prepare a classified balance sheet for the year ended December 31. (Amounts to be deducted should be indicated by a minus sign.) DAILY DRIVER, INCORPORATED Balance Sheet
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