The accounts in the ledger of Ontario Delivery Service contain the following balances (with normal debit or credit balances) on September 30th, 2020.

Accounts Receivable

2,040.00

Accounts Payable

2,550.00

Required:

Cash

Balance = ?

2. [20 Marks] With the account names and balances provided, prepare an income statement, a statement of retained earnings, and a classified balance sheet as of September 30th, 2020.

Delivery Equipment

6,460.00

Gas and Oil Expense

850.00

Income Statement

Statement of Retained Earnings

Insurance Expense

510.00

For the month ended September 30th, 2020

For the month ended September 30th, 2020

Notes Payable, due 2022

2,380.00

Accumulated Depreciation

1,700.00

Prepaid Insurance

1,700.00

Depreciation Expense

1,530.00

Service Revenues

4,420.00

Dividends declared

510.00

Contributed Capital

4,250.00

Rent Expense

680.00

Salaries Expense

1,020.00

Salaries Payable

850.00

Retained Earnings (Balance as of Sep 1st, 2020)

850.00

Required:

1. [5 Marks] Prepare the closing entries required at September 30th, 2020.

Balance Sheet

General Journal

Debit

Credit

At September 30th, 2020

Current Assets

Current Liabilities

Non-current Liabilities

Non-Current Assets

Shareholders' Equity