Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [The following information applies to the questions displayed below) The following adjusted trial balance at December 31 of Wilson Trucking Company, Account Title

image text in transcribed
image text in transcribed
image text in transcribed
Required information [The following information applies to the questions displayed below) The following adjusted trial balance at December 31 of Wilson Trucking Company, Account Title Debit Credit Cash $ 9,000 Accounts receivable 18,500 Office supplies 4, ebe Trucks 182,000 Accumulated depreciation-Trucks $ 37,000 Land 95,000 Accounts payable 15, een Interest payable 5,000 Long-tern notes payable 63, een K. Wilson, Capital 180,000 K. Wilson, withdrawals 21,000 Trucking revenue 140,00 Depreciation expense Trucks 24,500 Salaries expense 64,000 Office supplies expense 9, cee Interest expense 13.000 Totals 5.440,000 5.440,000 The K. Wilson, Capital account balance was $180,000 at December 31 of the prior year, and there were no owner investments during the year (1) Prepare the income statement for the year ended December 31 (2) Prepare the statement of owner's equity for the year ended December 31. Caminata the nation hantarinn nur neare in the the below Required information (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses Total expenses 0 0 S Required information Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the statement of owner's equity for the year ended December 31. WILSON TRUCKING COMPANY Statement of Owner's Equity For Year Ended December 31 K. Wilson, Capital, December 31 prior year Add: Investments by owner 0 K. Wilson, Capital, December 31 current year $ 0

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

The Federal Budget Politics Policy Process

Authors: Allen Schick

3rd Edition

0815777353, 9780815777359

More Books

Students also viewed these Accounting questions

Question

Appreciate the services that consultants provide

Answered: 1 week ago

Question

Know about the different kinds of consultants

Answered: 1 week ago