The Complete Accounting Cycle Without a Work Sheet: Two Months (second month optional)
Ledger balances on June 30 (before adjusting entries) for Lutz Repair Service are as follows.
Account_______________________________________ Balance
Accounts payable...........................................................15,372
Advertising Expense...........................................................240
B.Lutz, Capital ............................................................20,000
B. Lutz, Withdrawals...................................................... 1,200
Cash......................................................................... 17,140
Prepaid Insurance............................................................ 1,920
Repair Equipment ......................................................... 16,800
Repair Revenue.............................................................. 5,500
Repair Supplies .............................................................. 1872
Store Rent Expense ........................................................ 1,700