X151 Home| Federal Student AidX* Filling Out the FAFSAⓇ Form | FoxM Question 4ducation.com/ext/map/index.html?_con-con&external_browser=0&launch Url=https%253A%252F%SavedRequired Information[The following information applies to the questions displayed below.)The following adjusted trial balance at December 31 of Wilson Trucking Company.Account TitleCashAccounts receivableOffice suppliesTrucksAccumulated depreciation-TrucksLandDebit$ 8,000Credit17,5003,000172,000$ 36,00085,000Accounts payableInterest payable12,0004,000Long-term notes payable58,000K. Wilson, Capital170,000K. Wilson, WithdrawalsTrucking revenueDepreciation expense-TrucksSalaries expenseOffice supplies expenseInterest expenseTotals20,000130,00061,000B. 00012,000$410,000$110,000Prepare Wilson Trucking Company's classified balance sheet as of December 31.WILSON TRUCKING COMPANY

BALANCE SHEETThe balance sheet is one of the important financial statements of the company. Balance…

lucation.com/ext/map/index.html?_con-con&external_browser=0&launch Url=https%253A%252F% Saved Required Information [The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Debit $ 8,000 17,500 Credit 3,000 172,000 $ 36,000 85,000 12,000 Accounts payable 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 expense-Trucks 23,500 Salaries expense 61,000 Office supplies expense 8,000 Interest expense 12,000 Totals $410,000 $410,000 Prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING COMPANY L < Prev 5 of 7

lucation.com/ext/map/index.html?_con-con&external_browser=0&launch Url=https%253A%252F% Saved Required Information [The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Debit $ 8,000 17,500 Credit 3,000 172,000 $ 36,000 85,000 12,000 Accounts payable 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 expense-Trucks 23,500 Salaries expense 61,000 Office supplies expense 8,000 Interest expense 12,000 Totals $410,000 $410,000 Prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING COMPANY L < Prev 5 of 7

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Help Save & Exit Check m Seemore Lens Company (SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory of $85,000 and Cost of Goods Sold of S450,000. a. Included in Inventory (and Accounts Payable) are $13,000 of lenses SLC is holding on consignment. b. Included in SLC's Inventory balance are $6,500 of office supplies held in SLC's warehouse. c. Excluded from SLC's Inventory balance are $9,500 of lenses in the warehouse, ready to send to customers on January 2. SLO reported these lenses as sold on December 31, at a price of $18,000. d. Included in SLC's Inventory balance are $3,750 of lenses that were damaged in December and will be scrapped in January, with zero realizable value. Required: For each item, (a)-(d), prepare the journal entry to correct the balances presently reported. (If no entry Is requlred for a transaction/event, select "No Journal Entry Requlred" In the first account fleld.) View transaction list Journal entry…
BENE Store Worksheet December 31, 20X1 Balance Sheet Account Titles Trial Balance Income Statement Dr Cr Dr Cr Dr Cr Cash in Bank 70,000 Account Receivables 1,003,000 Allowance for Bad Debts 40,000 Merchandise Inventory 710,000 Equipment 2,720,100 Accumulated Depreciation- Equipment 70,000 Furniture 300,000 Accumulated Depreciation- Furniture 30,000 Accounts Payable 861,000 Loans Payable 1,000,000 BIR, SSS, PhilHealth Payable 100,000 V. Bene, Capital 1,300,000 V. Bene, Drawing 105,000 Sales 6,000,000 Cost of Sales 1,500,000 Salaries 1,305,900 Supplies Expense 48,400 Employees Benefits 238,100…
Presented below is the December 31 trial balance of New York Boutique. NEW YORK BOUTIQUETRIAL BALANCEDECEMBER 31 Debit Credit Cash $18,290 Accounts Receivable 40,800 Allowance for Doubtful Accounts $740 Inventory, December 31 83,150 Prepaid Insurance 6,920 Equipment 91,000 Accumulated Depreciation—Equipment 32,950 Notes Payable 28,710 Common Stock 82,710 Retained Earnings 10,870 Sales Revenue 645,350 Cost of Goods Sold 422,960 Salaries and Wages Expense (sales) 51,900 Advertising Expense 6,900 Salaries and Wages Expense (administrative) 73,110 Supplies Expense 6,300 $801,330 $801,330 Construct T-accounts and enter the balances shown. Cash Bal. Bal. Inventory Bal. Bal. Prepaid Insurance Bal. Bal. Common Stock Bal. Bal. Salaries and Wages Expense Bal. Bal. Retained…
1/1 8/10 8/12 8/25 11/10 (a) Led shows the following entries in its Equipment account for 2023. All amounts are based on historical cost. Balance (b) Purchases of equipment Freight on equipment purchased Installation costs Repairs Your answer is correct Account Titles and Explanation Repairs and Maintenarios Expense Equipment eTextbook and Media List of Accounts Your answer is partially correct Equipment 115.000 Prepare any necessary correcting entries (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no enby is required, select "No Entry for the account titles and enter O for the amounts. List debit entry before credit entry) 1.Straight-line 27.000 600 2.300 425 Cost of equipment sold (purchased prior to 6/30 2023) 2. Declining balance (assume twice the straight-line rate) Debit 425 Assuming that depreciation is to be charged for a full year based on the ending balance in the asset account no matter when acquired, calculate the…
Subject: accounting
hrd.3 answer must be in table format or i will give down vote
answer the balance column of the general ledger (periodic method)
Please don't provide answer in image format thank you
Question: Prepare the Journal Entries, General Ledger, Adjusted Trial Balance
Show the Journal entries and General Ledger accounts in the books of XYZ Traders for the sale of a Motor Vehicle. Original Cost of Motor Vehicle $60,000; Accumulated Depreciation on Motor Vehicle $15,000 Sold the Motor Vehicle for $41,500 (ex GST) for cash on 30 June XYZ TRADERS General Journal Date Particulars Post Ref Debit Credit 2015 Cash Receipts Journal of XYZ Traders Date Details Folio Other GST Bank
On April 30, 2020, a fire damaged the office of Waterloo 1. What is the total amount of sales up to April 30? Problem 13-15 (AICPA Adapted) & 4,200,000 b. 4,220,000 c. 4,140,000 d. 4,160,000 What is the total amount of purchases up to April 30? Company. on March 31, 2020: Accounts receivable Inventory - January1 Accounts payable Sales Purchases 920,000 1,880,000 950,000 3,600,000 1,680,000 • An examination of the April bank statement and canceled checks revealed checks written during the period April 1-3 a. 1,760,000 b. 2,100,000 c. 2,020,000 d. 1,680,000 Accounts payable as of March 31 April merchandise shipments Expenses 240,000 80,000 160,000 3 What is the inventory on April 30? Deposits during the same period amounted to P440,000 which consisted of collections from customers with the exception of P20,000 refund from a vendor for merchåndise returned in April. a. 1,476,000 b. 1,464,000 1,440,000 d. 1,428,000 ( What is the fire loss to be recognized on April 30? Customers…
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working