tml Homework Required information Use the following information for the Exercise

Question

tml Homework Required information Use the following information for the Exercises below. The following information applies to the questions displayed below] 2 of 2 following is the adjusted year-end tnal balance at December 31, 2018, of Wison Trucking Company end tinal balance at December 31, 2018, of Company 17,200 182,000 2. 000 tmezeat payable Long-tem notes 20.800 taised enrnings, Decenbes 31, 301 26, 000 Exercise 3-9 Preparing a classified balance sheet LO C3 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheetds of December 31, 2018

Explanation / Answer

WN 1

Retained earnings beginning balance $ 158,000 Add: Net income Trucking fees earned $ 126,000 Less: Expenses Depreciation expense   $ (23,600) Salaries expense $ (59,000) Office supplies expense $    (7,600) Repairs expense $ (11,000) Net income $    24,800 Less: Dividends $ (20,100) Ending retained earnings $ 162,700

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