Question
The accounts in the ledger for Bastin Delivery service contain the following balances as of July 31, 2014. Prepare a classified Balance Sheet solving for
The accounts in the ledger for Bastin Delivery service contain the following balances as of July 31, 2014. Prepare a classified Balance Sheet solving for Cash.
a. Prepare a classified BS solving for Cash.
b. Prepare a Retained earnings statement.
c. Prepare a classified IS.
AR $13,400
AP 8,400
Cash ???
Equipment 59,360
Maint & Repair EXP 1,958
Insur Exp 900
Notes Payable (due 2017) 28,450
Prepaid Insurance 2,200
Service revenue 15,500
Dividends 700
Common Stock 40,000
Salaries Exp 7,428
Salraies Payable 820
Retained earnings at July 1 5,200
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