Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help I'm not sure how to finish this question/if it's correct Credit Debit $ 7,300 28,000 7,508 171,000 $ 35, 226 43,000 Account
I need help I'm not sure how to finish this question/if it's correct
Credit Debit $ 7,300 28,000 7,508 171,000 $ 35, 226 43,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expenseTrucks Totals 11,300 11,000 67,000 129,760 12,000 130,000 22,721 64,018 17,000 11,739 $384,286 $384,286 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 Current assets Cash $ 7,300 Accounts receivable 28,000 Office supplies 7,508 Total current assets $ 42,808 Plant assets Trucks $ 171,000 Accumulated depreciationTrucks 35,226 135,774 Land 43,000 Total plant assets 178,774 221,582 Total assets $ Liabilities Current liabilities $ Accounts payable Interest payable 11,300 11,000 Total current liabilities 22,300 Long-term liabilities Long-term notes payable 67,000 Total liabilities 89,300 Equity K. Wilson, Capital 117,760 14,522 Total liabilities and equity $ 221,582Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started