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Speedy Ship reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior
Speedy Ship reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements. Speedy Ship Adjusted Trial Balance At May 31, 2019 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Depreciation Expense Dividends Equipment Goodwill Income Tax Expense Income Tax Payable Interest Expense Interest Receivable Interest Revenue (millions of dollars) Debit Credit $3,100 $ 5,200 19,800 5,100 2,900 2,600 190 38,500 4,000 1,000 1,000 120 30 40 7,900 400 Notes Payable (long-term) Notes Payable (short-term) Office Expenses Prepaid Rent 7,560 950 Rent Expense 2,700 Repairs and Maintenance Expense 2,100 Retained Earnings 16,980 Salaries and Wages Expense 16,800 Salaries and Wages Payable Service Revenue Supplies Transportation Expense 1,900 45,400 470 12,100) $ 99,420 $ 99,420
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