amgt: Chapters 1, 2 and 30 7 8, 900 10,500 6,875 161,000 Aocounta receivable off

Question

amgt: Chapters 1, 2 and 30 7 8, 900 10,500 6,875 161,000 Aocounta receivable office supplles 33,16 47,000 2,900 8,000 40,000 i8,000 133,976 317817ccounts payable Interest payable Loeg-term notes payable Common stock 26,000 Trucking fees earned 24,000 21,332 8,625 17,000 Depreclation expense-Tracks Salarles expense Office supplies expense Totals 368,042 $368,042 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31, 2017 Balance Sheet Assets

Explanation / Answer

WILSON TRUCKING COMPANY Balance Sheet December 31, 2017 Assets Current assets Cash 8900 Accounts receivable 10500 Office supplies 6875 Total current assets 26275 Plant assets Trucks 161000 Accumulated depreciation-Trucks 33166 127834 Land 47000 Total plant assets 174834 Total assets 201109 Liabilities Current liabilities Accounts payable 12900 Interest payable 8000 Total current liabilities 20900 Long-term liabilities Long-term notes payable 40000 Total liabilities 60900 Equity Common Stock 18000 Retained earnings 122209 Total Equity 140209 Total liabilities and equity 201109

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