The accounts in the ledger of Rapid Delivery Service contain the following balances on July 31, 2017.

Instructions
(a) Prepare a trial balance with the accounts arranged as illustrated in the chapter, and fill in the missing amount for Cash.
(b) Prepare an income statement, a retained earnings statement, and a classified balance sheet for the month of July 2017.

Transcribed Image Text:

Accounts Receivable Accounts Payable Cash Equipment Maintenance and 2,200 5,500 700 40,000 $13,400 Prepaid Insurance 8,400 Service Revenue Dividends 59,360 Common Stock Salaries and Wages Expense 7428 820 1,958 Repairs Expense Insurance Expense Salaries and Wages Payable Retained Earnings (July 1, 2017) 900 Notes Payable (due 2020) 28,450 5,200