Answered step by step
Verified Expert Solution
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.
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 WorkStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started