Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The accounts in the ledger of Waterway Delivery Service contain the following balances on July 31, 2020. Accounts Receivable $7,900 Prepaid Insurance $2,300 Accounts Payable

The accounts in the ledger of Waterway Delivery Service contain the following balances on July 31, 2020.

Accounts Receivable $7,900 Prepaid Insurance $2,300
Accounts Payable 8,500 Maintenance and Repairs Expense 600
Cash ? Service Revenue 12,000
Equipment 51,000 Owners Drawings 600
Gasoline Expense 800 Owners Capital 40,000
Utilities Expense 800 Salaries and Wages Expense 4,700
Notes Payable 18,000 Salaries and Wages Payable 700

Prepare a trial balance and fill in the missing amount for Cash.image text in transcribedimage text in transcribedimage text in transcribed

Exercise 2-16 The accounts in the ledger of Waterway Delivery Service contain the following balances on July 31, 2020. Accounts Receivable $2,300 $7,900 8,500 Accounts Payable 600 Cash ? 12,000 51,000 Prepaid Insurance Maintenance and Repairs Expense Service Revenue Owner's Drawings Owner's Capital Salaries and Wages Expense Salaries and Wages Payable 600 Equipment Gasoline Expense Utilities Expense Notes Payable 800 40,000 4,700 800 18,000 700 Prepare a trial balance and fill in the missing amount for Cash. Prepare a trial balance and fill in the missing amount for Cash. WATERWAY DELIVERY SERVICE Trial Balance Debit Credit $ $ Totals $ $ Click if you would like to Show Work for this question: Open Show Work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Assurance Services and Ethics in Australia an Integrated Approach

Authors: Alvin A Arens, Peter J. Best, Greg Shailer, Brenton Fiedler

9th edition

978-1442539365, 1442539364

More Books

Students also viewed these Accounting questions