DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Account Name Debit Credit Notes $ 1,250 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. DDI has not yet paid or recorded $900 of salary for December. DDI paid all its taxes from last year. DDI issued 6,000 shares at $5 each. This is the total accumulated earnings to January 1 of this year. All revenue is received in cash when the Cash Supplies 100 Prepaid Insurance 1,450 Equipment Accumulated Depreciation 50,000 $ 3,000 Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings 30,000 5,680 Service Revenue 25,570 service is given. DDI's only employee receives a salary of $900 for December. Salaries and Wages 9,800 Expense Supplies Expense 150 This is the cost of windshield washer fluid used to November 30. The car's benefits are being used up about $3,000 per year. No car insurance has been paid for next Depreciation Expense Insurance Expense Fuel Expense Income Tax Expense year. All fuel is paid for in cash. DDI's tax rate is 20% of income before 1,500 tax. Depreciation Expense The car's benefits are being used up about $3,000 per year. No car insurance has been paid for next Insurance Expense Fuel Expense Income Tax Expense year. All fuel is paid for in cash. DDI's tax rate is 20% of income before 1,500 tax. Totals $ 64,250 $ 64,250 pare a classified balance sheet for the year ended December 31. (Amounts to be deducted should be indicated by a m

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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[The following information applies to the questions displayed below.]
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.
DAILY DRIVER, INCORPORATED
Unadjusted Trial Balance
At December 31
Account Name
Debit
Credit
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.
DDI has not yet paid or recorded $900 of
salary for December.
DDI paid all its taxes from last year.
DDI issued 6,000 shares at $5 each.
This is the total accumulated earnings to
January 1 of this year.
Cash
$ 1,250
Supplies
100
Prepaid Insurance
1,450
Equipment
Accumulated Depreciation
50,000
$ 3,000
Salaries and Wages
Payable
Income Tax Payable
30,000
5,680
Common Stock
Retained Earnings
Service Revenue
25,570
All revenue is received in cash when the
service is given.
DDI's only employee receives a salary of
$900 for December.
This is the cost of windshield washer
Salaries and Wages
9,800
Expense
Supplies Expense
150
fluid used to November 30.
The car's benefits are being used up
about $3,000 per year.
No car insurance has been paid for next
Depreciation Expense
Insurance Expense
year.
All fuel is paid for in cash.
DDI's tax rate is 20% of income before
Fuel Expense
1,500
Income Tax Expense
tax.
Depreciation Expense
The car's benefits are being used up
about $3,000 per year.
No car insurance has been paid for next
Insurance Expense
year.
All fuel is paid for in cash.
Fuel Expense
1,500
Income Tax Expense
DDI's tax rate is 20% of income before
tax.
Totals
$ 64,250
$ 64,250
repare a classified balance sheet for the year ended December 31. (Amounts to be deducted should be indicated by a minus si
DAILY DRIVER, INCORPORATED
Balance Sheet
For the Year Ended December 31
$
2$
$
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] 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. DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Account Name Debit Credit 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. DDI has not yet paid or recorded $900 of salary for December. DDI paid all its taxes from last year. DDI issued 6,000 shares at $5 each. This is the total accumulated earnings to January 1 of this year. Cash $ 1,250 Supplies 100 Prepaid Insurance 1,450 Equipment Accumulated Depreciation 50,000 $ 3,000 Salaries and Wages Payable Income Tax Payable 30,000 5,680 Common Stock Retained Earnings Service Revenue 25,570 All revenue is received in cash when the service is given. DDI's only employee receives a salary of $900 for December. This is the cost of windshield washer Salaries and Wages 9,800 Expense Supplies Expense 150 fluid used to November 30. The car's benefits are being used up about $3,000 per year. No car insurance has been paid for next Depreciation Expense Insurance Expense year. All fuel is paid for in cash. DDI's tax rate is 20% of income before Fuel Expense 1,500 Income Tax Expense tax. Depreciation Expense The car's benefits are being used up about $3,000 per year. No car insurance has been paid for next Insurance Expense year. All fuel is paid for in cash. Fuel Expense 1,500 Income Tax Expense DDI's tax rate is 20% of income before tax. Totals $ 64,250 $ 64,250 repare a classified balance sheet for the year ended December 31. (Amounts to be deducted should be indicated by a minus si DAILY DRIVER, INCORPORATED Balance Sheet For the Year Ended December 31 $ 2$ $
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post-closing trial balnce for daily driver inc

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show me the Post-Closing trial balance for daily driver inc.

 

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show me the closing journal entry of daily driver inc.

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