Question

Exercise 2-16 The accounts in the ledger of Time Is Money Delivery Service contain the following balances on July 31, 2019. $10,642 Accounts Receivable Prepaid Insurance $1,968 Accounts Payable Maintenance and Repairs Expense 8,396 961 Cash 10,610 Service Revenue Dividends Equipment 49,360 700 Gasoline Expense Common Stock 758 40,000 Utilities Expense 523 Salaries and Wages Expense 4,428 Notes Payable Salaries and Wages Payable 26,450 815 Retained Earnings 4,636 Prepare a trial balance and fill in the missing amount for Cash. Time Is Money Delivery Service Trial balance Debit Credit

Answer 1

Trial Balance July 31, 2019 Debit Credit Cash 21567 Accounts Receivable Prepaid Insurance Equipment Notes Payable Accounts Payable Salaries and Wages Payable 10642 1968 49360 26450 8396 815 Common Stock 40000 Retained Earnings 4636 Dividends 700 Service Revenue 10610 Salaries and Wages Expense Maintenance and Repairs Expense 961 Gasoline Expense Utilities Expense 4428 758 523 Total 90907 90907