Question: Using the information given below, prepare a balance sheet for Rapid Car Services from the adjusted trial balance. Rapid Car Services Adjusted Trial Balance For
Using the information given below, prepare a balance sheet for Rapid Car Services from the adjusted trial balance. Rapid Car Services Adjusted Trial Balance For the year ended December 31 Cash . $33,000 Accounts receivable . 14,200 Office supplies . 1,700 Vehicles .. 100,000 Accumulated depreciation Vehicles 45,000 Accounts payable 11,500 Common stock .. 20,000 Retained earnings .. 51,900 Dividends ... 40,000 Fees earned .. 155,000 Rent expense ... 13,000 Office supplies expense ... 2,000 Utilities expense .. 2,500 Depreciation Expense Vehicles.. 15,000 Salary expense . 50,000 Fuel expense Totals 12,000 $283,400 ________ $283,400.
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