loader  Loading... Please wait...

Question(s) / Instruction(s):

Account Title                                                      Debit                                    Credit

  Cash                                                                    $7,000                   

  Accounts receivable                                    16,500                   

  Office supplies                                                                 2,000                   

  Trucks                                                                170,000                                  

  Accumulated depreciation—Trucks                                                      $35,000 

  Land                                                                   75,000                   

  Accounts payable                                                                                          11,000 

  Interest payable                                                                                               3,000 

  Long-term notes payable                                                                           52,000 

  Common stock                                                                                                                10,000 

  Retained earnings                                                                                        151,000 

  Dividends                                                         19,000                   

  Trucking fees earned                                                                                  128,000 

  Depreciation expense—Trucks                               22,500                   

  Salaries expense                                           60,000                   

  Office supplies expense                              7,000                   

  Repairs expense—Trucks                          11,000                   

               

  Totals                                                                  $390,000                              $390,000 

Required:

Using the above adjusted trial balance to prepare Webb Trucking Company’s classified balance sheet as of December 31, 2011:    

Find Similar Answers by Subject


Student Reviews

Rate and review your solution! (Please rate on a Scale of 1 - 5. Top Rating is 5.)


Expert's Answer
Download Solution:
$1.79

This solution includes:

  • Plain text
  • Cited sources when necessary
  • Attached file(s)
  • Solution Document(s)

You Recently Viewed...



Reach Us

408-538-8534

20-3582-4059

39-008-4233

+1-408-904-6494