Homework Help is Here – Start Your Trial Now!
Business
Accounting
Account Name Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Insurance Expense DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Credit Notes Debit $1,700 190 1,900 68,000 11,600 240 0 1,950 $ 4,080 @ 39,000 6,130 36,370 This equals the bank balance. Only windshield washer fluid that cost $30 remains at December 31. This amount was paid January 2 for car insurance from January 1 through December 31 of this year. This is the car's purchase price. The car will be two years old at the end of December. 001 has not yet paid or recorded $1,080 of salary for December. DOI paid all its taxes from last year. DOI issued 7,800 shares at $5 each. This is the total accumulated earnings to January 1 of this year. All revenue is received in cash when the service is given. 001's only employee receives a salary of $1,000 for December. This is the cost of windshield washer fluid used to November 30. The car's benefits are being used up about $4,000 per year. No car insurance has been paid for next year. All fuel is paid for in cash,

Account Name Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Insurance Expense DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Credit Notes Debit $1,700 190 1,900 68,000 11,600 240 0 1,950 $ 4,080 @ 39,000 6,130 36,370 This equals the bank balance. Only windshield washer fluid that cost $30 remains at December 31. This amount was paid January 2 for car insurance from January 1 through December 31 of this year. This is the car's purchase price. The car will be two years old at the end of December. 001 has not yet paid or recorded $1,080 of salary for December. DOI paid all its taxes from last year. DOI issued 7,800 shares at $5 each. This is the total accumulated earnings to January 1 of this year. All revenue is received in cash when the service is given. 001's only employee receives a salary of $1,000 for December. This is the cost of windshield washer fluid used to November 30. The car's benefits are being used up about $4,000 per year. No car insurance has been paid for next year. All fuel is paid for in cash,

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

Daily Driver, Incorporated (DDI), operates a driving service through a popular ride-sharing app. DDI has prepared a list of unadjusted account balances at its December 31 year-end. You have reviewed the balances and made notes shown in the right column. Account Name Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Insurance Expense Fuel Expense Income Tax Expense Totals DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Credit Debit $1,700 190 1,900 68,000 11,600 240 ə 1,950 0 $ 85,580 $ 4,080 0 ə 39,000 6,130 36,370 $ 85,580 Notes This equals the bank balance. Only windshield washer fluid that cost $30 remains at December 31. This amount was paid January 2 for car insurance from January 1 through December 31 of this year. This is the car's purchase price.. The car will be two years old at the end of December. DOI has not yet paid or recorded $1,080 of salary for December. DOI paid all its taxes from last year. DOI issued 7,800 shares at $5 each. This is the total accumulated earnings to January 1 of this year. All revenue is received in cash when the service is given. DOI's only employee receives a salary of $1,080 for December. This is the cost of windshield washer fluid used to November 30. The car's benefits are being used up about $4,000 per year. No car insurance has been paid for next year. All fuel is paid for in cash.. 001's tax rate is 20% of income before tax.
Transcribed Image Text:Daily Driver, Incorporated (DDI), operates a driving service through a popular ride-sharing app. DDI has prepared a list of unadjusted account balances at its December 31 year-end. You have reviewed the balances and made notes shown in the right column. Account Name Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Insurance Expense Fuel Expense Income Tax Expense Totals DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Credit Debit $1,700 190 1,900 68,000 11,600 240 ə 1,950 0 $ 85,580 $ 4,080 0 ə 39,000 6,130 36,370 $ 85,580 Notes This equals the bank balance. Only windshield washer fluid that cost $30 remains at December 31. This amount was paid January 2 for car insurance from January 1 through December 31 of this year. This is the car's purchase price.. The car will be two years old at the end of December. DOI has not yet paid or recorded $1,080 of salary for December. DOI paid all its taxes from last year. DOI issued 7,800 shares at $5 each. This is the total accumulated earnings to January 1 of this year. All revenue is received in cash when the service is given. DOI's only employee receives a salary of $1,080 for December. This is the cost of windshield washer fluid used to November 30. The car's benefits are being used up about $4,000 per year. No car insurance has been paid for next year. All fuel is paid for in cash.. 001's tax rate is 20% of income before tax.
Required information DAILY DRIVER, INCORPORATED Adjusted Trial Balance At December 31 For the Year Ended December 31 Totals S 0 S >E 0
Transcribed Image Text:Required information DAILY DRIVER, INCORPORATED Adjusted Trial Balance At December 31 For the Year Ended December 31 Totals S 0 S >E 0
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Changes and Error Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS