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The following adjusted trial balance on December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,200 Accounts receivable 18,700 Office Supplies 4,200
The following adjusted trial balance on December 31 of Wilson Trucking Company.
Account Title | Debit | Credit |
---|---|---|
Cash | $ 9,200 | |
Accounts receivable | 18,700 | |
Office Supplies | 4,200 | |
Trucks | 184,000 | |
Accumulated depreciationTrucks | $ 37,200 | |
Land | 97,000 | |
Accounts payable | 15,600 | |
Interest payable | 5,200 | |
Long-term notes payable | 64,000 | |
K. Wilson, Capital | 182,000 | |
K. Wilson, Withdrawals | 21,200 | |
Trucking revenue | 142,000 | |
Depreciation expenseTrucks | 24,700 | |
Salaries expense | 64,600 | |
Office supplies expense | 9,200 | |
Interest expense | 13,200 | |
Totals | $ 446,000 | $ 446,000 |
The K. Wilson, Capital account balance was $182,000 on December 31 of the prior year, and there were no owner investments during the year.
1) Prepare the income statement for the year ending December 31.
2) Prepare the statements of owner's equity for the year ending December 31.
Prepare the income statement for the year ended December 31 WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 Prepare the statement of owner's equity for the year ended December 31 . The K. Wilson, Capital account balance was $182,000 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. The K. Wilson, Capital account balance was $182,000 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 31Step by Step Solution
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