Using the Information Given Below,prepare a Balance Sheet for Rapid

question 134

Essay

Using the information given below,prepare a balance sheet for Rapid Car Services from the adjusted trial balance. $\begin{array}{c} \text {Rapid Car Services}\\ \text {Adjusted Trial Balance}\\ \text {For the year ended December 31}\\\begin{array}{lll} \text { Cash } & \$ 33,000 \\ \text { Accounts receivable } & 14,200 \\\text { Office supplies . } & 1,700 \\\text { Vehicles}&100,000\\\text { Accumulated depreciation - Vehicles}&&45,000\\\text { Accounts payable}&&11,500\\\text { Common stock}&&20,000\\\text { Retained earnings}&&51,900\\\text { Dividends}&40,000\\\text { Fees earned }&&155,000\\ \text { Rent expense} & 13,000 \\ \text { Office supplies expense } & 2,000 \\ \text { Utilities expense } & 2,500 \\ \text { Depreciation Expense - Vehicles } & 15,000 \\ \text { Salary expense} & 50,000 & \\ \text { Fuel expense } & 12.000 & \\ \text { Totals } & \underline{\underline{\$ 283,400}} & \underline{\underline{\$ 283,400}} \\\end{array}\end{array}$

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Definitions:

Defense Mechanisms

Psychological strategies used unconsciously to protect oneself from anxiety arising from unacceptable thoughts or feelings.

Obsessions

Persistent, unwanted thoughts, urges, or images that cause distress or anxiety.

Compulsions

Repetitive behaviors or mental acts that an individual feels driven to perform in response to an obsession or according to rigid rules.

Related

Having a connection or association with something else, either by blood, context, or similarity.