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5. AccountTitleDebitCreditCash$9,300Accounts receivable27,500Office supplies6,518Trucks191,000...5. AccountTitleDebitCreditCash$9,300Accounts receivable27,500Office supplies6,518Trucks191,000Accumulateddepreciation—Trucks$39,346Land50,000Accounts payable13,300Interest payable5,000Long-term notes payable42,000Common stock15,000Retained earnings146,818Dividends10,000Trucking fees...

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Question

Accounting

5. AccountTitleDebitCredit
Cash$9,300
Accounts receivable27,500
Office supplies6,518
Trucks191,000
Accumulateddepreciation—Trucks$39,346
Land50,000
Accounts payable13,300
Interest payable5,000
Long-term notes payable42,000
Common stock15,000
Retained earnings146,818
Dividends10,000
Trucking fees earned130,000
Depreciation expense—Trucks25,378
Salaries expense55,577
Office supplies expense6,000
Repairs expense—Trucks10,191
Totals$391,464$391,464

  
Use the above adjusted trial balance to prepare Wilson TruckingCompany’s classified balance sheet as of December 31, 2017.

Answer & Explanation Solved by verified expert
4.5 Ratings (940 Votes)
Wilson Trucking co Balancesheet As on December 31 2017 Assets Current assets Cash 9300 Accounts Receivables 27500 Office supplies 6518 Total Current assets 43318 Plant assets Trucks 191000 Less Accumulated Deprecialtion    See Answer
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In: Accounting5. AccountTitleDebitCreditCash$9,300Accounts receivable27,500Office supplies6,518Trucks191,000...5. AccountTitleDebitCreditCash$9,300Accounts receivable27,500Office supplies6,518Trucks191,000Accumulateddepreciation—Trucks$39,346Land50,000Accounts payable13,300Interest payable5,000Long-term notes payable42,000Common stock15,000Retained earnings146,818Dividends10,000Trucking fees earned130,000Depreciation expense—Trucks25,378Salaries expense55,577Office supplies expense6,000Repairs expense—Trucks10,191Totals$391,464$391,464  Use the above adjusted trial balance to prepare Wilson TruckingCompany’s classified balance sheet as of December 31, 2017.

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