Account Title Debit Credit Cash $ 7,200 Accounts receivable 16,500 Office supplies 7,700 Trucks 155,000 Accumulated...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664d44805dc4c_839664d447fc524e.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664d44811d06a_840664d44809c956.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664d4481c58d2_841664d448152a99.jpg)
Transcribed Image Text:
Account Title Debit Credit Cash $ 7,200 Accounts receivable 16,500 Office supplies 7,700 Trucks 155,000 Accumulated depreciation-Trucks $31,930 Land 44,000 Accounts payable 11,200 Interest payable 19,000 Long-term notes payable 44,000 Common stock -9,935 Retained earnings 135,500 Dividends 27,000 Trucking fees earned 130,000 Depreciation expense-Trucks 20,595 Salaries expense 65,660 Office supplies expense 6,000 Repairs expense-Trucks 12,040 Totals $361,695 $361,695 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING COMPANY Balance Sheet December 31 Assets WILSON TRUCKING COMPANY Balance Sheet December 31 Assets Liabilities Total equity Liabilities Equity Account Title Debit Credit Cash $ 7,200 Accounts receivable 16,500 Office supplies 7,700 Trucks 155,000 Accumulated depreciation-Trucks $31,930 Land 44,000 Accounts payable 11,200 Interest payable 19,000 Long-term notes payable 44,000 Common stock -9,935 Retained earnings 135,500 Dividends 27,000 Trucking fees earned 130,000 Depreciation expense-Trucks 20,595 Salaries expense 65,660 Office supplies expense 6,000 Repairs expense-Trucks 12,040 Totals $361,695 $361,695 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING COMPANY Balance Sheet December 31 Assets WILSON TRUCKING COMPANY Balance Sheet December 31 Assets Liabilities Total equity Liabilities Equity
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Bingl is one the provinces in Turkey with a very high earthquake risk, since the city center is located on the fault and is very close to the East Anatolian Fault Zone, which is also one of the most...
-
In each of the following situations, calculate the p-value of the observed data. (a) For testing H0 : 1/2 versus H1 : > 1/2,7 successes are observed out of 10 Bernoulli trials. (b) For testing H0...
-
Use the information for Lockard Company given in BE11-2. (a) Compute 2012 depreciation expense using the double-declining-balance method. (b) Compute 2012 depreciation expense using the...
-
Bottling Company acquired a 75 percent interest in Regional Bottling Partnership on January |, 2008. Assume the following information related to this acquisition: The excess of fair value over book...
-
Convert each of the following estimates of useful life to a straight-line depreciation rate, stated as a percentage: (a) 4 years, (b) 8 years, (c) 10 years, (d) 16 years, (e) 25 years, (f) 40 years,...
-
SEND A " PICTURE " OF THE ANSWERS PLEASE. " EXCEL ". Kindly use the EXCEL Required: Prepare the following: 1. Net Sales, Cost of Sales, Administrative expense, and Selling Expense. 2. Assuming...
-
A Big Mac costs 324 roubles in Moscow, and $4.57 in Chicago. If the official exchange rate is $0.016 per rouble, what percentage over or underpriced are roubles? Give your answer in percentage points...
-
If a company's sales are growing at a rate of 11% per year, how long will it take for sales to triple?
-
There are several methods of capital budgeting, which one of them is most commonly applied and why? Rationalize your stance
-
Transaction Deposits or checking account; transaction account; Savings Deposits or savings account; Time deposits;Money Market Deposit Accounts. For each service listed above, describe whether it...
-
The costs incurred in two periods were as under Period Costs Kshs Units produced 1 25,000 2,000 2 30,000 2,500 Find out the fixed and variable costs of these two periods. (10marks)
-
Find the final amount (rounded to the nearest dollar) in this retirement account, in which the rate of return on the account and the regular contribution change over time. $200 per month invested at...
-
Which of the following statement prints the length of an array "A"? * System.out.print( A); O System.out.print( A.length ); System.out.print( A.size ); System.out.print( length (A)); O None of the...
-
Trade credit from suppliers is a very costly source of funds when discounts are lost. Explain why many firms rely on this source of funds to finance their temporary working capital.
-
Explain some ways you might reduce motor vehicle insurance premiums.
-
Identify each type of risk and list the four methods of managing risk.
-
Alcohol use is a factor in more than 60 percent of all traffic accidents. Interview classmates, parents, and others to get their views on what can be done to reduce alcohol-related traffic incidents....
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App