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hello, i just need help finding the retained earnings. the previous questions for this doesn't have the correct retained earnings Required information Use the following
hello, i just need help finding the retained earnings. the previous questions for this doesn't have the correct retained earnings
Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company. Credit Debit $ 8,000 17,500 3,000 172,000 $ 36,000 85,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking revenue Depreciation expense-Trucks Salaries expense Office supplies expense Interest expense Totals 12,000 4,000 58,000 30,000 140,000 20,000 130,000 23,500 61,000 8,000 12,000 $ 410,000 $ 410,000 Exercise 3-22 (Static) Preparing a classified balance sheet LO C2 Prepare Wilson Trucking Company's classified balance sheet as of December 31. The Retained Earnings account balance was $140,000 at December 31 of the prior year. WILSON TRUCKING COMPANY Balance Sheet December 31 WILSON TRUCKING COMPANY Balance Sheet December 31 Assets Current assets Cash Accounts receivable Office supplies S 8,000 17,500 3,000 S 28,500 S 172,000 36,000 Total current assets Plant assets Trucks Accumulated depreciationTrucks Land Total plant assets Total assets Liabilities Current liabilities Accounts payable Interest payable 136,000 85,000 221,000 249,500 S S 12,000 4,000 S 16,000 Total current liabilities Long-term liabilities Long-term notes payable 58,000 Total liabilities $ 74,000 Equity 30,000 Common stock Retained earnings $ Total equity Total liabilities and equity 30,000 104,000 SStep by Step Solution
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