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The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credi Cash Accounts recelvable $ 9,400 16,5ee 2,000 Office supplies Trucks 177,000 $ 36,462 Accunulated depreciation-Trucks Land 75,000 Accounts payable 11,400 90,ב 52,000 164,761 Long-term notes payable K. Milson, Capital K. Milson, Hithdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks 19,000 131,000 23,518 61,439 5,s00 Totals S400,623 5400,623 The K. Wison. Capital account balance was S164761 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WIL SON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses Total expenses < Required 1 Required 2 >

The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credi Cash Accounts recelvable $ 9,400 16,5ee 2,000 Office supplies Trucks 177,000 $ 36,462 Accunulated depreciation-Trucks Land 75,000 Accounts payable 11,400 90,ב 52,000 164,761 Long-term notes payable K. Milson, Capital K. Milson, Hithdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks 19,000 131,000 23,518 61,439 5,s00 Totals S400,623 5400,623 The K. Wison. Capital account balance was S164761 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WIL SON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses Total expenses < Required 1 Required 2 >

FINANCIAL ACCOUNTING
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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The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit $ 9,480 16,5ee 2,000 177,000 Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks $ 36,462 Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense 75,000 13,400 3,000 52,000 164,761 19,000 131,000 23,518 61,439 5,5ee Office supplies expense Repairs expense-Trucks 11,266 Totals $480, 623 $488,623 The K. Wilson, Capital account balance was $164,761 at December 31 of the prior year. (1) Prepare the Income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WIL SON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses Total expenses < Required 1 Required 2 >
Transcribed Image Text:The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit $ 9,480 16,5ee 2,000 177,000 Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks $ 36,462 Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense 75,000 13,400 3,000 52,000 164,761 19,000 131,000 23,518 61,439 5,5ee Office supplies expense Repairs expense-Trucks 11,266 Totals $480, 623 $488,623 The K. Wilson, Capital account balance was $164,761 at December 31 of the prior year. (1) Prepare the Income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WIL SON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses Total expenses < Required 1 Required 2 >
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