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
Related questions
Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F349461cb-1b30-4c35-820c-1501f366655c%2F805ca199-79ac-4ebc-9503-011171c2d4c8%2Fxl1tc29_processed.jpeg&w=3840&q=75)
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
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 1 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education