The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking revenue Depreciation expense-Trucks Salaries expense office supplies expense Interest expense Totals Debit $ 8,800 18,300 3,800 180,000 93,000 20,800 Credit Prepare the closing entries for the year ended December 31. $36,800 14,400 4,800 62,000 178,000 138,000 24,300 63,400 8,800 12,800 $ 434,000 $ 434,000
The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking revenue Depreciation expense-Trucks Salaries expense office supplies expense Interest expense Totals Debit $ 8,800 18,300 3,800 180,000 93,000 20,800 Credit Prepare the closing entries for the year ended December 31. $36,800 14,400 4,800 62,000 178,000 138,000 24,300 63,400 8,800 12,800 $ 434,000 $ 434,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:The following adjusted trial balance at December 31 of Wilson Trucking Company.
Account Title
Cash
Accounts receivable
office supplies
Trucks
Accumulated depreciation-Trucks
Land
Accounts payable
Interest payable
Long-term notes payable
K. Wilson, Capital
K. Wilson, Withdrawals
Trucking revenue
Depreciation expense-Trucks
Salaries expense
office supplies expense
Interest expense
Totals
Debit
$ 8,800
18,300
3,800
180,000
93,000
20,800
Credit
Prepare the closing entries for the year ended December 31.
$36,800
14,400
4,800
62,000
178,000
138,000
24,300
63,400
8,800
12,800
$ 434,000 $ 434,000
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