Question

why the answer is not completed

3: Homework Saved Check my work mode : This shows what is correct or incorrect for the work you ha Exercise 3-12 Preparing a classified balance sheet LO C3 Credit Debit $ 5,900 14,500 8,113 195,000 $ 40,170 41,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense ottice supplies expense Repairs expense-Trucks Totals 9,900 17,000 34,000 50,716 135,500 35,000 129.000 25, 910 69,178 9.000 12,685 $416,286 $416,286 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balanc Answer is not complete. WILSON TRUCKING COMPANY Balance Sheet December 31 Assets < Prev 11 of 15 Next

Answer 1

Retained earnings is calculated by adding net income and deducted for dividend paid

28,513 Balance Sheet Assets Current Assets Cash $ 5,900 Accounts Receivable $ 14,500 Office Supplies $ 8,113 Total Current Assets Plant Assets Trucks $ 1,95,000 Less: Accumulated Depreciation $ -40,170 Land Total Assets Liabilities & Stockholder's Equity Current Liabilities Accounts Payable 9,900 Interest payable 17,000 Total Current Liabilities Long term note payable Stock holder's Equity Common Stock $ 50,716 Retained Earnings $ 1,12,727 Total Stockholder's Equity Total Liabilities & Stockholder's Equity $ $ $ 1,54,830 41,000 2,24,343 26,900 34,000 $ 135500-35500+12227 $ $ 1,63,443 2.24,343 $ 1,29,000 $ Income Statement Trucking fee earned Less: Depreciation Expenses Salaries Expenses Office Supplies Expenses Repairs expenses- truck Net Income $ -25,910 -69,178 -9,000 -12,685 12,227 $