Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of...
Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31
Homework Answers
| WILSON TRUCKING COMPANY | ||
| Balance Sheet | ||
| December 31 | ||
| Assets | ||
| Current Assets | ||
| Cash | 8000 | |
| Accounts receivable | 20000 | |
| Office supplies | 7563 | |
| Total current assets | 35563 | |
| Property, Plant, and Equipment | ||
| Trucks | 186000 | |
| Less: Accumulated depreciation-Trucks | 38316 | 147684 |
| Land | 47000 | |
| Total property, plant, and equipment | 194684 | |
| Total assets | 230247 | |
| Liabilities | ||
| Current liabilities | ||
| Accounts payable | 12000 | |
| Interest payable | 6000 | |
| Total current liabilities | 18000 | |
| Long-term liabilities | ||
| Notes payable | 58000 | |
| Total long term liabilities | 58000 | |
| Total liabilities | 76000 | |
| Equity | ||
| Common stock | 28773 | |
| Retained earnings | 125474 | |
| Total equity | 154247 | |
| Total liabilities and equity | 230247 | |
Working:
Net income = Trucking fees earned $130000 - Depreciation expense $24714 - Salaries expense $64487 - Office supplies expense $10000 - Repairs expense $11825 = $18974
Retained earnings = Balance $135500 + Net income $18974 - Dividends $29000 = $125474
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Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of...
Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of...
Use
the above adjusted trial balance to prepare Wilson Trucking
Company's classified balance sheet as of December 31
Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. Answer is not complete. WILSON TRUCKING COMPANY Balance Sheet December 31 Assets 9.600 Current assets Cash Accounts receivable Office supplies 20,500 7,040 37.140 $ 171,000 35,226 135,774 Total current assets Plant assets Trucks Accumulated depreciation-Trucks Land Total plant assets Total assets Liabilities 135,774 172,914...
Exercise 4-12 Preping a classified balance sheet LO C3 Use the above adjusted trial balance to prepare Wilson Trucking Company’s Classified balance sheet as of December 31, 2017. il How to Beco...
Exercise 4-12 Preping a classified balance sheet LO C3
Use the above adjusted trial balance to prepare Wilson
Trucking Company’s Classified balance sheet as of December 31,
2017.
il How to Become a P- ด.© samantha gordon Ho Chemistry Chapter Exercise 4-12 Preparing a classified balance sheet LO C3 Account Title $ 5,500 20, 500 7,673 197,000 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...
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company....
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Credit Debit $ 7,300 17,500 3,900 179,000 $ 41,000 82,200 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings, December 31, 2017 Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense–Trucks Totals 12,300 3,700 61,000 20,600 151,000 19,000 131,000 22,600 68,000 8,200 12,900 $420,600 $420,600 Use the...
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company....
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,400 Accounts receivable 18,100 Office supplies 2,300 Trucks 175,000 Accumulated depreciation—Trucks $ 34,000 Land 68,000 Accounts payable 12,900 Interest payable 3,400 Long-term notes payable 43,000 Common stock 21,200 Retained earnings, December 31, 2017 159,000 Dividends 20,100 Trucking fees earned 131,000 Depreciation expense—Trucks 23,400 Salaries expense 69,000 Office supplies expense 8,100 Repairs expense—Trucks 11,100 Totals $ 404,500 $ 404,500...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,800 Accounts receivable 16,500 Office supplies 2,000 Trucks 195,000 Accumulated depreciation—Trucks $ 40,170 Land 75,000 Accounts payable 13,800 Interest payable 3,000 Long-term notes payable 52,000 Common stock 38,828 Retained earnings 140,000 Dividends 19,000 Trucking revenue 142,500 Depreciation expense—Trucks 25,910 Salaries expense 66,833 Office supplies expense 8,000 Repairs expense—Trucks 12,255 Totals $ 430,298 $ 430,298 Use the above-adjusted trial balance to prepare...
4 Exercise 4-12 Preparing a classified balance sheet LO C3 10 points eBook Print References Account...
4 Exercise 4-12 Preparing a classified balance sheet LO C3 10 points eBook Print References 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 fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit 6,100 29,500 7,480 195,000 $ 40,170 44,000 10, 100 13,000 34,600 202,200 27,000 126,000 25,910 63,784 15,00 11,696 $ 425, 470 $ 425, 470 Use the...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,000 Accounts receivable 16,500 Office supplies 2,000 Trucks 189,000 Accumulated depreciation—Trucks $ 38,934 Land 75,000 Accounts payable 13,000 Interest payable 3,000 Long-term notes payable 52,000 Common stock 35,880 Retained earnings 137,500 Dividends 19,000 Trucking fees earned 135,500 Depreciation expense—Trucks 25,112 Salaries expense 63,549 Office supplies expense 5,000 Repairs expense—Trucks 11,653 Totals $ 415,814 $ 415,814 The Retained Earnings account balance...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company.
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. The Retained Earnings account balance was $140,000 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of retained earnings for the year ended December 31.
Required information [The following information applies to the questions displayed below.] The following is the adjusted...
Required information [The following information applies to the questions displayed below.] The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company Account Title Debit Credit Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings, December 31, 2017 Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense Trucks Totals $ 9,100 16,900 2,000 166,000 $ 29,000 74,300 11,900 4,700 62,000...
Exercise 4-12 Preparing a classified balance sheet LO C3 Account Title Debit Credit Cash $ 5,200...
Exercise 4-12 Preparing a classified balance sheet LO C3 Account Title Debit Credit Cash $ 5,200 Accounts receivable 12,000 Office supplies 6,738 Trucks 171,000 Accumulated $ 35, 226 depreciation-Trucks Land 40,000 Accounts payable 9,200 Interest payable 17,000 Long-term notes payable 64,000 K. Wilson, Capital 108,221 K. Wilson, Withdrawals 21,000 Trucking fees earned 125,000 Depreciation expense- 22,721 Trucks Salaries expense 57,453 Office supplies expense 12,000 Repairs expense-Trucks 10,535 Totals $ 358,647 $ 358,647 Use the above adjusted trial balance to prepare...
Use
the above adjusted trial balance to prepare Wilson Trucking
Company's classified balance sheet as of December 31
Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. Answer is not complete. WILSON TRUCKING COMPANY Balance Sheet December 31 Assets 9.600 Current assets Cash Accounts receivable Office supplies 20,500 7,040 37.140 $ 171,000 35,226 135,774 Total current assets Plant assets Trucks Accumulated depreciation-Trucks Land Total plant assets Total assets Liabilities 135,774 172,914...
Exercise 4-12 Preping a classified balance sheet LO C3
Use the above adjusted trial balance to prepare Wilson
Trucking Company’s Classified balance sheet as of December 31,
2017.
il How to Become a P- ด.© samantha gordon Ho Chemistry Chapter Exercise 4-12 Preparing a classified balance sheet LO C3 Account Title $ 5,500 20, 500 7,673 197,000 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...
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Credit Debit $ 7,300 17,500 3,900 179,000 $ 41,000 82,200 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings, December 31, 2017 Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense–Trucks Totals 12,300 3,700 61,000 20,600 151,000 19,000 131,000 22,600 68,000 8,200 12,900 $420,600 $420,600 Use the...
4 Exercise 4-12 Preparing a classified balance sheet LO C3 10 points eBook Print References 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 fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit 6,100 29,500 7,480 195,000 $ 40,170 44,000 10, 100 13,000 34,600 202,200 27,000 126,000 25,910 63,784 15,00 11,696 $ 425, 470 $ 425, 470 Use the...
Required information [The following information applies to the questions displayed below.] The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company Account Title Debit Credit Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings, December 31, 2017 Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense Trucks Totals $ 9,100 16,900 2,000 166,000 $ 29,000 74,300 11,900 4,700 62,000...
Exercise 4-12 Preparing a classified balance sheet LO C3 Account Title Debit Credit Cash $ 5,200 Accounts receivable 12,000 Office supplies 6,738 Trucks 171,000 Accumulated $ 35, 226 depreciation-Trucks Land 40,000 Accounts payable 9,200 Interest payable 17,000 Long-term notes payable 64,000 K. Wilson, Capital 108,221 K. Wilson, Withdrawals 21,000 Trucking fees earned 125,000 Depreciation expense- 22,721 Trucks Salaries expense 57,453 Office supplies expense 12,000 Repairs expense-Trucks 10,535 Totals $ 358,647 $ 358,647 Use the above adjusted trial balance to prepare...
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