Question
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account TitleDebitCreditCash$9,100Accounts receivable16,500Office supplies2,000Trucks157,000Accumulated depreciationTrucks$32,342Land75,000Accounts payable13,100Interest payable3,000Long-term notes payable52,000K. Wilson, Capital139,269K. Wilson,
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company.
Account TitleDebitCreditCash$9,100Accounts receivable16,500Office supplies2,000Trucks157,000Accumulated depreciationTrucks$32,342Land75,000Accounts payable13,100Interest payable3,000Long-term notes payable52,000K. Wilson, Capital139,269K. Wilson, Withdrawals19,000Trucking fees earned150,000Depreciation expenseTrucks20,861Salaries expense70,350Office supplies expense7,000Repairs expenseTrucks12,900Totals$389,711$389,711
The K. Wilson, Capital account balance was $139,269 at December 31 of theprior year.
(1)Prepare the income statementfor the year ended December 31.
(2)Prepare the statement of owner's equity for the year ended December 31.
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Business Accounting
Authors: Jill Collis, Andrew Holt, Roger Hussey
3rd Edition
113752149X, 9781137521491
