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Total current assets 24 34,558 Plant assets Trucks 181 000

Total current assets 24 34,558 Plant assets Trucks 181 000

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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4 Account Title Debit Credit Cash Accounts receivable Office supplies Trucks 8,100 19,500 6,958 181,000 Accumulated depreciation-Trucks $ 37,286 Land 48,000 Accounts payable Interest payable Long-term notes payable Common stock Retained earnings 12,100 2,000 57,000 29,929 135,500 eBook Hint Dividends 43,000 Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense 129,000 Print 24,049 59,329 2,000 10,879 ferences Repairs expense-Trucks Totals $402,815 $402,815 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING COMPANY Balance Sheet December 31 Assets Current assets Cash 2$ 8,100 Accounts receivable 19,500 Office supplies 6,958 Total current assets 2$ 34,558 Mc Graw ( Prev Next > 4 of 5
Transcribed Image Text:4 Account Title Debit Credit Cash Accounts receivable Office supplies Trucks 8,100 19,500 6,958 181,000 Accumulated depreciation-Trucks $ 37,286 Land 48,000 Accounts payable Interest payable Long-term notes payable Common stock Retained earnings 12,100 2,000 57,000 29,929 135,500 eBook Hint Dividends 43,000 Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense 129,000 Print 24,049 59,329 2,000 10,879 ferences Repairs expense-Trucks Totals $402,815 $402,815 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING COMPANY Balance Sheet December 31 Assets Current assets Cash 2$ 8,100 Accounts receivable 19,500 Office supplies 6,958 Total current assets 2$ 34,558 Mc Graw ( Prev Next > 4 of 5
Total current assets 2$ 34,558 Plant assets Trucks 181,000 37,286 24 Accumulated depreciation-Trucks 143,714 Land 48,000 Total plant assets 191,714 Total assets 2$ 226,272 Liabilities Current liabilities Accounts payable 2$ 12,100 ces Interest payable 2,000 Total current liabilities 14,100 Long-term notes payable 57,000 71,100 Total liabilities Equity 29,929 Common stock 125,243 Retained earnings 155,172 Total equity 2$ 226,272 Total liabilities and equity Next >
Transcribed Image Text:Total current assets 2$ 34,558 Plant assets Trucks 181,000 37,286 24 Accumulated depreciation-Trucks 143,714 Land 48,000 Total plant assets 191,714 Total assets 2$ 226,272 Liabilities Current liabilities Accounts payable 2$ 12,100 ces Interest payable 2,000 Total current liabilities 14,100 Long-term notes payable 57,000 71,100 Total liabilities Equity 29,929 Common stock 125,243 Retained earnings 155,172 Total equity 2$ 226,272 Total liabilities and equity Next >
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