Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a Classified Balance Sheet I need help with this balance sheet please. Credit Debit $ 8,500 11,500 6,903 162,000 $ 33,372 40,000 Account Title

Prepare a Classified Balance Sheet

I need help with this balance sheet please.

image text in transcribed

image text in transcribed

Credit Debit $ 8,500 11,500 6,903 162,000 $ 33,372 40,000 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 expense-Trucks 12,500 9,000 66,000 104,209 18,000 127,000 21,525 58,860 14,000 10,793 $352,081 Totals $352,081 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. X Answer is not complete. WILSON TRUCKING COMPANY Balance Sheet December 31 Assets Cash $ 8,500 11,500 Accounts receivable Office supplies Oool 6,903 0 ololol 0 26,903 Total current assets Plant assets Trucks $ 162,000 33,372 128,628 Accumulated depreciationTrucks Land Total plant assets Total assets 40,000 168,628 195,531 $ Liabilities Current liabilities Accounts payable Interest payable $ 12,500 9,000 21,500 Total current liabilities Long-term liabilities Long-term notes payable 66,000 Total liabilities 87,500 Equity K. Wilson, Capital 91,321 Total liabilities and equity $ 178,821

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Making Use Of Clinical Audit A Guide To Practice In The Health Professions

Authors: Sally J. Redfern, Anemone Kober, Maurice Kogan

1st Edition

0335195423, 978-0335195428

More Books

Students also viewed these Accounting questions

Question

Enhance the basic quality of your voice.

Answered: 1 week ago

Question

Describe the features of and process used by a writing team.

Answered: 1 week ago