Homework Answers
| WILSON TRUCKING COMPANY | ||
| Balance Sheet | ||
| December 31, 2017 | ||
| Assets | ||
| Current assets | ||
| Cash | 5500 | |
| Accounts receivable | 20500 | |
| Office supplies | 7673 | |
| Total current assets | 33673 | |
| Plant assets | ||
| Trucks | 197000 | |
| Accumulated depreciation—Trucks | 40582 | 156418 |
| Land | 43000 | |
| Total plant assets | 199418 | |
| Total assets | 233091 | |
| Liabilities | ||
| Current liabilities | ||
| Accounts payable | 9500 | |
| Interest payable | 5000 | |
| Total current liabilities | 14500 | |
| Long-term liabilites | ||
| Long-term notes payable | 46000 | |
| Total liabilities | 60500 | |
| Equity | ||
| K. Wilson, Capital | 172591 | |
| Total liabilities and equity | 233091 | |
| Workings: | ||
| K. Wilson, Capital=194188+(128000-26175-65425-19000-11997)-27000=172591 | ||
Add Answer to:
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 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...
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...
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 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...
Exercise 4-12 Preparing a classified balance sheet LO C3 Account Title Debit Credit Cash $ 6,900...
Exercise 4-12 Preparing a classified balance sheet LO C3 Account Title Debit Credit Cash $ 6,900 Accounts receivable 24,500 office supplies 7,480 Trucks 156,000 Accumulated depreciation Trucks $ 32,136 Land 48,000 Accounts payable 10,900 Interest payable 3,000 Long-term notes 60,000 payable x. Wilson, Capital 149,052 x. Wilson, 36,000 Withdrawals Trucking fees carned 125,000 Depreciation expense -Trucks 20,728 Salaries expense 63,784 office supplies expense 5,000 Repairs expense- Trucks 11,696 Totals $380,088 $380,086 Use the above adjusted trial balance to prepare Wilson...
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...
4 Exercise 3.9 Preparing a classified balance sheet LO C3 Cash Accounts receivable Office supplies Trucks...
4 Exercise 3.9 Preparing a classified balance sheet LO C3 Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks and Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks 21,5ee 8,e58 17e,8ee eBook s 35,820 42,080 10,889 5,0e0 60,e89 19,000 135,434 Print 35,000 126,e80 office supplies expense Repairs expense-Trucks Totals 22,588 68,789 4,ee0 12,599 $391,254 $391,254 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December...
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...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,300 Accounts receivable 16,500 office supplies 2,000 Trucks 174,000 Accumulated depreciation-Trucks $ 35,844 Land 75,000 Accounts payable 10,300 Interest payable 3,000 Long-term notes payable 52,000 x. Wilson, Capital 154, 193 x. Wilson, withdrawals 19,000 Trucking fees earned 148,500 Depreciation expense 23,119 Trucks Salaries expense 69,647 Office supplies expense 5,500 Repairs expense Trucks 12,771 Totals...
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 TitleDebitCreditCash$8,000Accounts receivable17,500Office supplies3,000Trucks172,000Accumulated depreciation—Trucks$36,000Land85,000Accounts payable12,000Interest payable4,000Long-term notes payable53,000Common stock20,000Retained earnings, December 31, 2017155,000Dividends20,000Trucking fees earned130,000Depreciation expense—Trucks23,500Salaries expense61,000Office supplies expense8,000Repairs expense—Trucks12,000Totals$410,000$410,000Prepare its balance sheet as of December 31, 2018.
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...
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 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...
Exercise 4-12 Preparing a classified balance sheet LO C3 Account Title Debit Credit Cash $ 6,900 Accounts receivable 24,500 office supplies 7,480 Trucks 156,000 Accumulated depreciation Trucks $ 32,136 Land 48,000 Accounts payable 10,900 Interest payable 3,000 Long-term notes 60,000 payable x. Wilson, Capital 149,052 x. Wilson, 36,000 Withdrawals Trucking fees carned 125,000 Depreciation expense -Trucks 20,728 Salaries expense 63,784 office supplies expense 5,000 Repairs expense- Trucks 11,696 Totals $380,088 $380,086 Use the above adjusted trial balance to prepare Wilson...
4 Exercise 3.9 Preparing a classified balance sheet LO C3 Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks and Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks 21,5ee 8,e58 17e,8ee eBook s 35,820 42,080 10,889 5,0e0 60,e89 19,000 135,434 Print 35,000 126,e80 office supplies expense Repairs expense-Trucks Totals 22,588 68,789 4,ee0 12,599 $391,254 $391,254 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,300 Accounts receivable 16,500 office supplies 2,000 Trucks 174,000 Accumulated depreciation-Trucks $ 35,844 Land 75,000 Accounts payable 10,300 Interest payable 3,000 Long-term notes payable 52,000 x. Wilson, Capital 154, 193 x. Wilson, withdrawals 19,000 Trucking fees earned 148,500 Depreciation expense 23,119 Trucks Salaries expense 69,647 Office supplies expense 5,500 Repairs expense Trucks 12,771 Totals...
The following is the adjusted year-end trial balance at December
31, 2018, of Wilson Trucking Company.Account TitleDebitCreditCash$8,000Accounts receivable17,500Office supplies3,000Trucks172,000Accumulated depreciation—Trucks$36,000Land85,000Accounts payable12,000Interest payable4,000Long-term notes payable53,000Common stock20,000Retained earnings, December 31, 2017155,000Dividends20,000Trucking fees earned130,000Depreciation expense—Trucks23,500Salaries expense61,000Office supplies expense8,000Repairs expense—Trucks12,000Totals$410,000$410,000Prepare its balance sheet as of December 31, 2018.
Most questions answered within 3 hours.
-
Business Phasing
1.Discuss the logical progression for growing a business, which
starts from the initial idea...
asked 1 minute ago -
Modify
When executing on the command line having only
this program name, the program will accept...
asked 1 hour ago -
Kenny Electric Company's noncallable bonds were issued several
years ago and now have 20 years to...
asked 1 hour ago -
find H(e^Jtheta) at theta= 0, pi/10, pi/20, pi/2 for
the following:
a) H(e^Jtheta)= 1+e^Jtheta
b) H(e^Jtheta)=...
asked 1 hour ago -
Home Corporation will open a new store on January 1. Based on
experience from its other...
asked 2 hours ago -
In a neoclassical model, use the IS-LM to analyze the effect of
a permanent money supply...
asked 2 hours ago -
An electron passes through a point 2.67 cm from a long straight
wire as it moves...
asked 3 hours ago -
A grammar is a 4-tuple G, G = (Ν, Σ, Π, Σ, S) where, Ν is...
asked 4 hours ago -
In this part, calculate the present values. Use the Excel PV
function to compute the present...
asked 4 hours ago -
Part 1. Primitive Types, Sorting, Recursion for
Homework.java
a) Implement the static method initializeArray that receives...
asked 5 hours ago -
Using C++, build a sorter that can rank a sequence of numbers in
a descending order....
asked 5 hours ago -
Derive ground state term symbols. Use notation 2S(1/2) for state
2S1/2
a) d5
b) f3
c)...
asked 5 hours ago