Use the following information for the Exercises below.

Skip to question

[The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company.

Exercise 4-11 (Algo) Preparing a classified balance sheet LO C1

Prepare Wilson Trucking Companys classified balance sheet as of December 31.

Credit Debit $ 9,400 18,900 4,400 186,000 $ 37,400 99,000 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 revenue Depreciation expense-Trucks Salaries expense Office supplies expense Interest expense 16,200 5,400 65,000 184,000 21,400 144,000 24,900 65,200 9,400 13,400 Totals $ 452,000 $ 452,000 WILSON TRUCKING COMPANY Balance Sheet December 31 Assets S Current asseta Cash Accounts receivable Office Supplies 9.400 18,900 4,400 S 32,700 S 168,000 37,4001 148,600 Total current assets Plant assets Trucks Accumulated depreciation - Trucks Land Total plant assets Total assets Llabilities Current Habilities Accounts payable Interest payable 99,000 247,600 280.300 S S 58,200 5,400 21.800 Total current liabilities Long-term liabilities Long term notes payable 85,000 Total liabilities 86,800 Equity K. Wilson, Capital K. Wilson Withdrawals 184,000 21,400 Total liabilities and equity S 292,000