Question

CALCULATOR STANDARD VIEW PRINTER VERSION Exercise 2-16 The accounts in the ledger of Lily Delivery Service contain the following balances on July 31, 2020, Accounts Recevable Accounts Payable Cash Equipment Gasoline Expense Utilities Expense Notes Payable $7,500 Prepaid Insurance 8,900 Maintenance and Repairs Expense 7 Service Revenue 50,000 Owner's Drawings 700 Owner's Capital 500 Salaries and Wages Expense 16,000 Salaries and Wages Payable $1,800 500 10,000 900 41,000 4,900 700 Prepare a trial balance and fill in the missing amount for Cash. LILY DELIVERY SERVICE Trial Balance July 31, 2020 . Debit Credit Accounts Receivable 7,500 Accounts Payable 8,900 Cash 50,000 Equipment 700 Gasoline Expense 500 Utilities Expense 16,000 Notes Payable MacBook Pro

Answer 1

LILY DELIVERY SERVICE Trial Balance July.31,2020 Debit Credit Cash $ 9,800 Accounts Receivables $ 7,500 Prepaid Insurance $ 1,800 Equipment $ 50,000 Accounts Payable $ 8,900 Slaries and wages Payable $ 700 Notes Payable $ 16,000 Owners' Capital $ 41,000 Owners' Drawings $ 900 Service Revenue $ 10,000 Gasoline Expense $ 700 Utilities Expense $ 500 Maintenance and Repairs Expense $ 500 Salaries and wages Expense $ 4,900 $ 76,600 $ 76,600 Cash = Total Credits - Total Debits with out cash balance = $76,600 - ($7,500+$1,800+$50,000+$900+$700+$500+$500+$4,900) = $9,800