Dividends 59,540 Common Stock ? 890 40,180

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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The accounts in the ledger of Cullumber Delivery Service contain the following balances on July 31, 2022.
Accounts Receivable
Accounts Payable
Cash
Equipment
Maintenance and Repairs Expense
Insurance Expense
Notes Payable (due 2025)
$15,300
10,300
?
59,540
3,658
710
30,250
Prepaid Insurance
Service Revenue
Dividends
Common Stock
Salaries and Wages Expense
Salaries and Wages Payable
Retained Earnings (July 1, 2022)
$3,400
17,200
890
40,180
9,228
930
6,400
Transcribed Image Text:The accounts in the ledger of Cullumber Delivery Service contain the following balances on July 31, 2022. Accounts Receivable Accounts Payable Cash Equipment Maintenance and Repairs Expense Insurance Expense Notes Payable (due 2025) $15,300 10,300 ? 59,540 3,658 710 30,250 Prepaid Insurance Service Revenue Dividends Common Stock Salaries and Wages Expense Salaries and Wages Payable Retained Earnings (July 1, 2022) $3,400 17,200 890 40,180 9,228 930 6,400
Prepare a classified balance sheet for the month of July 2022. (List current assets in order of liquidity)
CULLUMBER DELIVERY SERVICE
Balance Sheet
$
Assets
Liabilities and Stockholders' Equity
$
$
$
$
Transcribed Image Text:Prepare a classified balance sheet for the month of July 2022. (List current assets in order of liquidity) CULLUMBER DELIVERY SERVICE Balance Sheet $ Assets Liabilities and Stockholders' Equity $ $ $ $
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