The ledger of Super Delivery Service has the following account balances at the company's year end, August

Question:

The ledger of Super Delivery Service has the following account balances at the company's year end, August 31, 2017:

The ledger of Super Delivery Service has the following account

Instructions
(a) Prepare a trial balance, with the accounts arranged in ledger (financial statement) order, as illustrated in the chapter, and determine the missing amount for Cash.
(b) Prepare an income statement, statement of owner's equity, and balance sheet.
TAKING IT FURTHER
The owner, Tom Rowe, is not sure how much cash he can withdraw from the company each year. After reviewing the financial statements, comment on the amount he withdrew this year.

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Related Book For  book-img-for-question

Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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