Use the following adjusted trial balance of Hanson Trucking Company to prepare a classified balance sheet as
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Use the following adjusted trial balance of Hanson Trucking Company to prepare a classified balance sheet as of December 31, 2020.
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 $ 13,000 Cash. ..... Accounts receivable 29,600 Office supplies. 3,100 170,000 Trucks. $ 46,000 Accumulated depreciation, trucks.. ............... 275,000 Land. 31,000 Accounts payable. Interest payable. Long-term notes payable (due in 4 years). Stanley Hanson, capital . Stanley Hanson, withdrawals. 400 152,000 206,200 19,000 Trucking revenue. Depreciation expense, trucks. Salaries expense. Office supplies expense. 168,000 22,500 58,000 6,500 Repairs expense, trucks. 6,900 $603,600 $603,600 Total.
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HaNSON Trucking CoMPANY Balance Sheet December 31 2020 Assets Curren...View the full answer
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Related Book For
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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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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