Financial Accounting 7th Canadian Edition by Walter Harrison Test bank

 

Rent expense                 $ 7,500           Dividends                  $10,200

Truck                               23,600           Accounts payable         6,700

Supplies                            2,500           Service revenue          45,600

Salary expense               19,400           Salary payable            12,200

Accounts receivable         8,200           Utilities expense           5,000

Note payable                  10,000           Interest expense            1,200

Common shares            25,000           Cash                             21,900

 

Prepare a balance sheet for Tap Corporation dated August 31, 2017.

Answer:                                     Tap Corporation

                                                        Balance Sheet

                                                      August 31, 2017

       Assets                                                           Liabilities

Cash                                         $21,900       Accounts payable      $6,700

Accounts receivable                   8,200       Note payable             10,000

Supplies                                       2,500       Salary payable            12,200

Truck