Use the following adjusted trial balance of Webb Trucking Company to prepare the (1) Income statement and
Question:
Use the following adjusted trial balance of Webb Trucking Company to prepare the
(1) Income statement and
(2) Statement of owner’s equity, for the year ended December 31, 2011.
The K. Webb, Capital, account balance is $161,000 at December 31,2010.
Transcribed Image Text:
Account Title Credit Accounts receivable. .16.500 Trucks Trucks Land... 75,000 ts payable Interest payable. Long-term notes payable K. Webb. WithdrawalsW Trucking fees earned Depreciation expense-Trucks Salaries expense.... Office supplies expense Repairs expenserucks 60,000 $390,000 $390,000
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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