Account TitleDebitCreditCash$6,800Accounts receivable26,000Office supplies7,205Trucks151,000Accumulated...Account TitleDebitCreditCash$6,800Accounts receivable26,000Office supplies7,205Trucks151,000Accumulated depreciation—Trucks$31,106Land47,000Accounts payable10,800Interest payable12,000Long-term notes payable38,000Common stock17,000Retained earnings149,867Dividends45,000Trucking...

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Question

Accounting

Account Title
Debit
Credit
Cash
$
6,800
Accounts receivable
26,000
Office supplies
7,205
Trucks
151,000
Accumulated depreciation—Trucks
$
31,106
Land
47,000
Accounts payable
10,800
Interest payable
12,000
Long-term notes payable
38,000
Common stock
17,000
Retained earnings
149,867
Dividends
45,000
Trucking fees earned
128,000
Depreciation expense—Trucks
20,063
Salaries expense
61,439
Office supplies expense
11,000
Repairs expense—Trucks
11,266
Totals
$
386,773
$
386,773

Use the above adjusted trial balance to prepare Wilson TruckingCompany’s classified balance sheet as of December 31, 2017.
WILSON TRUCKING COMPANY
Balance Sheet
December 31, 2017
Assets
0
Liabilities
Equity
$0
$0

Answer & Explanation Solved by verified expert

4.3 Ratings (677 Votes)

Answer Use the above adjusted trial balance to prepare Wilson Trucking Companys classified balance sheet as of December 31 2017 Current assets Cash and cash equivalents 6800 Accounts receivable 26000 Office supplies 7205 Total current See Answer

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Transcribed Image Text

In: AccountingAccount TitleDebitCreditCash$6,800Accounts receivable26,000Office supplies7,205Trucks151,000Accumulated...Account TitleDebitCreditCash$6,800Accounts receivable26,000Office supplies7,205Trucks151,000Accumulated depreciation—Trucks$31,106Land47,000Accounts payable10,800Interest payable12,000Long-term notes payable38,000Common stock17,000Retained earnings149,867Dividends45,000Trucking fees earned128,000Depreciation expense—Trucks20,063Salaries expense61,439Office supplies expense11,000Repairs expense—Trucks11,266Totals$386,773$386,773 Use the above adjusted trial balance to prepare Wilson TruckingCompany’s classified balance sheet as of December 31, 2017.WILSON TRUCKING COMPANYBalance SheetDecember 31, 2017Assets0LiabilitiesEquity$0$0

Account Title	Debit		Credit
Cash	$	6,800
Accounts receivable		26,000
Office supplies		7,205
Trucks		151,000
Accumulated depreciation—Trucks			$	31,106
Land		47,000
Accounts payable				10,800
Interest payable				12,000
Long-term notes payable				38,000
Common stock				17,000
Retained earnings				149,867
Dividends		45,000
Trucking fees earned				128,000
Depreciation expense—Trucks		20,063
Salaries expense		61,439
Office supplies expense		11,000
Repairs expense—Trucks		11,266
Totals	$	386,773	$	386,773