Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit cash $9,400 accounts receivable 18,900 office supplies 4,400 Trucks
The following adjusted trial balance at December 31 of Wilson Trucking Company.
Account Title | Debit | Credit |
cash | $9,400 | |
accounts receivable | 18,900 | |
office supplies | 4,400 | |
Trucks | 186,000 | |
accumulated depreciation--trucks | 37,400 | |
land | 99,000 | |
accounts payable | 16,200 | |
interest payable | 5,400 | |
long-term notes payable | 65,000 | |
K. Wilson, capital | 184,000 | |
K. Wilson, withdrawals | 21,400 | |
trucking revenue | 144,000 | |
depreciation expense--trucks | 24,900 | |
salaries expense | 65,200 | |
office supplies expense | 9,400 | |
repairs expense | 13,400 | |
totals | 452,000 | 452,000 |
Prepare Wilson Trucking Company's classified balance sheet as of December 31.
Step 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