Exercise 3-12 Preparing a classified balance sheet LO C3Account TitleDebit$7,200CreditCashAccounts receivableoffice suppliesTrucksAccumulated depreciation-TrucksLandAccounts payableInterest payableLong-term notes payableCommon stockRetained earningsDividends19,5006,160167,000$34,40244,00011,2003,00032,00019,607136,00027,000Trucking fees earnedDepreciation expense-TrucksSalaries expenseoffice supplies expenseRepairs expense-Trucks126,00022,18952,5287,0009,632Totals$362,209$362,209Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31.

Income Statement Particulars Amount Trucking fees earned $126,000 Less: Expenses: Salaries…

Account Title Debit Credit Cash Accounts receivable office supplies Trucks $ 7, 200 19,500 6,160 167,000 Accumulated depreciation-Trucks $ 34,402 Land 44,000 Accounts payable Interest payable Long-term notes payable 11, 200 3,000 32,000 19,607 136,000 Common stock Retained earnings Dividends 27,000 Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks 126,000 22,189 52,528 7,000 9,632 Totals $362,209 $362, 209 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31.

Account Title Debit Credit Cash Accounts receivable office supplies Trucks $ 7, 200 19,500 6,160 167,000 Accumulated depreciation-Trucks $ 34,402 Land 44,000 Accounts payable Interest payable Long-term notes payable 11, 200 3,000 32,000 19,607 136,000 Common stock Retained earnings Dividends 27,000 Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks 126,000 22,189 52,528 7,000 9,632 Totals $362,209 $362, 209 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Exercise 3-12 Preparing a classified balance sheet LO C3
Account Title
Debit
$7,200
Credit
Cash
Accounts receivable
office supplies
Trucks
Accumulated depreciation-Trucks
Land
Accounts payable
Interest payable
Long-term notes payable
Common stock
Retained earnings
Dividends
19,500
6,160
167,000
$34,402
44,000
11,200
3,000
32,000
19,607
136,000
27,000
Trucking fees earned
Depreciation expense-Trucks
Salaries expense
office supplies expense
Repairs expense-Trucks
126,000
22,189
52,528
7,000
9,632
Totals
$362,209
$362,209
Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31.

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