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Present below are the balance sheet of the assets and liabilities of High and Dry Delivery service as of Sept. 30, 19x2. Also included are the revenue and expense figure of the business for September.  Delivery exp………………. 4100  Account Receivable… …1900  Account Payable………….1750  High and Dry Capital……?  Salary Expense …………….2000  Delivery Equipment………15500  Supplies…………………………600  Note Payable…………………..6000  Rent Expense…………………..500  Cash…................................750    Required  1. What type of business organization is high and dry delivery service? How can you tell?  2. Prepared the balance sheet of high and dry delivery service as of September 10, 19x2

Present below are the balance sheet of the assets and liabilities of High and Dry Delivery service as of Sept. 30, 19x2. Also included are the revenue and expense figure of the business for September.  Delivery exp………………. 4100  Account Receivable… …1900  Account Payable………….1750  High and Dry Capital……?  Salary Expense …………….2000  Delivery Equipment………15500  Supplies…………………………600  Note Payable…………………..6000  Rent Expense…………………..500  Cash…................................750    Required  1. What type of business organization is high and dry delivery service? How can you tell?  2. Prepared the balance sheet of high and dry delivery service as of September 10, 19x2

FINANCIAL ACCOUNTING
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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Present below are the balance sheet of the assets and liabilities of High and Dry Delivery service as of Sept. 30, 19x2. Also included are the revenue and expense figure of the business for September. 

Delivery exp………………. 4100 

Account Receivable… …1900 

Account Payable………….1750

 High and Dry Capital……? 

Salary Expense …………….2000 

Delivery Equipment………15500 

Supplies…………………………600 

Note Payable…………………..6000 

Rent Expense…………………..500 

Cash…................................750 

 

Required 

1. What type of business organization is high and dry delivery service? How can you tell? 

2. Prepared the balance sheet of high and dry delivery service as of September 10, 19x2

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