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the chart of accounts for annis s delivery service is as follows chart of accountsas 4243708

The chart of accounts for Annis’s Delivery Service is as follows:Chart of AccountsAssets RevenueCash 111 Delivery Fees Earned 411Accounts Receivable 112 ExpensesOffice Equipment 121 Delivery Trucks 122Liabilities Gas Expense 512Accounts Payable 211 Salaries Expense 513Owner’s Equity Telephone Expense 514Avery Annis, Capital 311Avery Annis, Withdrawals 312Annis’s Delivery Service completed the following transactions during the month of August:Transaction A: Avery Annis invested $29,000 in the delivery service from her personal savings account.Transaction B: Bought delivery trucks on account, $12,000.Transaction C: Bought office equipment for cash, $600.Transaction D: Paid advertising expense, $650.Transaction E: Collected cash for delivery services rendered, $2,300.Transaction F: Paid drivers’ salaries, $600.Transaction G: Paid gas expense for trucks, $1,600.Transaction H: Performed delivery services for a customer on account, $1,700.Transaction I: Telephone expense due but unpaid, $200.Transaction J: Received $250 as partial payment of transaction H.Transaction K: Avery withdrew cash for personal use, $300.As Avery’s newly hired accountant, you must perform the following:1. The T accounts in the ledger have been set up for you. Record transactions in the T accounts. (Place the letter of the transaction next to the entry.)2. Foot the T accounts where appropriate.3. Prepare a trial balance at the end of August.4. Prepare from the trial balance, in proper form, (a) An income statement for the month of August, (b) A statement of owner’s equity, (c) A balance sheet as of August 31, 201X.View Solution:
The chart of accounts for Annis s Delivery Service is as

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