Wilson Trucking, adjusted trial balance at December The K. Wilson, Capital account balance was $170,000 at December
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Question:
Wilson Trucking, adjusted trial balance at December
The K. Wilson, Capital account balance was $170,000 at December 31 of the prior year, and there were no owner investments during the year.
(1) complete the income statement for the year ended December 31.
(2) complete the statement of owner's equity for the year ended December 31.
Account Title | Debit | Credit |
---|---|---|
Cash | $ 8,000 | |
Accounts receivable | 17,500 | |
Office supplies | 3,000 | |
Trucks | 172,000 | |
Accumulated depreciationTrucks | $ 36,000 | |
Land | 85,000 | |
Accounts payable | 12,000 | |
Interest payable | 4,000 | |
Long-term notes payable | 58,000 | |
K. Wilson, Capital | 170,000 | |
K. Wilson, Withdrawals | 20,000 | |
Trucking revenue | 130,000 | |
Depreciation expenseTrucks | 23,500 | |
Salaries expense | 61,000 | |
Office supplies expense | 8,000 | |
Interest expense | 12,000 | |
Totals | $ 410,000 | $ 410,000 |
rev: 05_12_2021_QC_CS-249618
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