Use the information in the adjusted trial balance reported in Exercise 3-8 to prepare Wilson Trucking Company?s
Question:
Use the information in the adjusted trial balance reported in Exercise 3-8 to prepare Wilson Trucking Company?s classified balance sheet as of December 31, 2018.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Account Title Debit Credit $ 8,000 Cash.... Accounts receivable. 17,500 Office supplies ... 3,000 Trucks ..... 172,000 $ 36,000 Accumulated depreciation-Trucks. Land.... Accounts payable... Interest payable .... 85,000 12,000 4,000 53,000 Long-term notes payable.... Common stock ..... 20,000 Retained earnings, December 31, 2017. Dividends ... Trucking fees earned.... Depreciation expense-Trucks 155,000 20,000 130,000 23,500 Salaries expense... Office supplies expense.. Repairs expense-Trucks.... 61,000 8,000 12,000 $410,000 $410,000 Totals...
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WILSON Trucking CoMPANY Balance Sheet Classified December 31 2018 Assets Current assets Cash 8000 Ac...View the full answer
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Related Book For
Financial Accounting Information for Decisions
ISBN: 978-1259917042
9th edition
Authors: John J. Wild
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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