Question
The following is the adjusted trial balance for Thompson on December 31, 2019. Thompson Trucking Adjusted Trial Balance December 31, 2019 Debit Credit Cash 41,050
The following is the adjusted trial balance for Thompson on December 31, 2019.
Thompson Trucking
Adjusted Trial Balance
December 31, 2019
| Debit | Credit |
Cash | 41,050 |
|
Accounts receivable | 7,500 |
|
Packing supplies | 800 |
|
Prepaid rent | 450 |
|
Truck | 26,000 |
|
Accum. Amortization, Truck |
| 1,800 |
Computer | 1,200 |
|
Accum. Amortization, Computer |
| 150 |
Accounts payable |
| 3,200 |
Salary payable |
| 1,900 |
Unearned revenue |
| 2,000 |
J. Thompson, Capital |
| 66,000 |
J. Thompson, Withdraw | 500 |
|
Delivery Fees earned |
| 17,500 |
Amortization expense, truck | 1,800 |
|
Amortization expense, computer | 150 |
|
Rent expense | 1,350 |
|
Salary expense | 5,300 |
|
Utility expense | 900 |
|
Telephone expense | 850 |
|
Packing supplies expense | 4,700 |
|
|
|
|
Total | 92,550 | 92,550 |
Prepare an income statement, statement of changes in equity and a balance sheet for the first three months of business ending December 31, 2019. (15 Marks each for the statements)
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