Account Title Debit Credit Cash...... $ 8,000 Accounts receivable. 17,500 Office supplies . 3,000 Trucks.... 172,000 Accumulated depreciation-Trucks. $ 36,000 Land........ 85,000 12,000 Accounts payable . Interest payable .... 4,000 Long-term notes payable . 53,000 K. Wilson, Capital ... K. Wilson, Withdrawals.. 175,000 20,000 Trucking fees earned 130,000 Depreciation expense-Trucks 23,500 Salaries expense.. Office supplies expense. ..... 61,000 8,000 Repairs expense-Trucks. 12,000 $410,000 Totals..... $410,000

Account Title Debit Credit Cash...... $ 8,000 Accounts receivable. 17,500 Office supplies . 3,000 Trucks.... 172,000 Accumulated depreciation-Trucks. $ 36,000 Land........ 85,000 12,000 Accounts payable . Interest payable .... 4,000 Long-term notes payable . 53,000 K. Wilson, Capital ... K. Wilson, Withdrawals.. 175,000 20,000 Trucking fees earned 130,000 Depreciation expense-Trucks 23,500 Salaries expense.. Office supplies expense. ..... 61,000 8,000 Repairs expense-Trucks. 12,000 $410,000 Totals..... $410,000

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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