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

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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…
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…
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hrd.3 answer must be in table format or i will give down vote
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
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