11. The following is a list of accounts, in alphabetical order, for Speedy Service Inc. at July 31, 2024: Accounts payable Accounts receivable Accumulated depreciation equipment Bank loan payable, due 2026 Cash Common shares Depreciation expense Dividends declared Equipment Income tax expense Insurance expense Interest expense Prepaid insurance Rent expense Repairs and maintenance expense Retained earnings Salaries expense Salaries payable Service revenue Trading investments $9,500 14,000 21,400 39,000 8,000 38,000 9,700 800 99,000 3,000 1,800 3,600 200 9,000 10,450 20,850 25,000 800 75,000 20,000 Prepare a Trial Balance. What is the total Credits. 12. Given the above information for Speedy Service Inc. in #11, prepare and income statement, statement of changes in equity, and a balance sheet. What are the Total Assets? 13. Given the above information for Speedy Service Inc. in #11, prepare and income statement, statement of changes in equity, and a balance sheet. What is its Income?

11. The following is a list of accounts, in alphabetical order, for Speedy Service Inc. at July 31, 2024: Accounts payable Accounts receivable Accumulated depreciation equipment Bank loan payable, due 2026 Cash Common shares Depreciation expense Dividends declared Equipment Income tax expense Insurance expense Interest expense Prepaid insurance Rent expense Repairs and maintenance expense Retained earnings Salaries expense Salaries payable Service revenue Trading investments $9,500 14,000 21,400 39,000 8,000 38,000 9,700 800 99,000 3,000 1,800 3,600 200 9,000 10,450 20,850 25,000 800 75,000 20,000 Prepare a Trial Balance. What is the total Credits. 12. Given the above information for Speedy Service Inc. in #11, prepare and income statement, statement of changes in equity, and a balance sheet. What are the Total Assets? 13. Given the above information for Speedy Service Inc. in #11, prepare and income statement, statement of changes in equity, and a balance sheet. What is its Income?

Name: 11. The following is a list of accounts, in alphabetical order, for S
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Description: 11. The following is a list of accounts, in alphabetical order, for Speedy Service Inc. at July 31, 2024:Accounts payable$ 9,500Accounts receivable14,00021,40039,0008,00038,000Accumulated depreciation-equipmentBank loan payable, due 2026CashCommon s

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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