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Question(s) / Instruction(s):

 Account Title                                                     Debit                                     Credit

  Cash                                                                    $9,900                   

  Accounts receivable                                    28,500                   

  Office supplies                                                               6,820                      

  Trucks                                                                187,000                                  

  Accumulated depreciation—Trucks                                                      $38,522 

  Land                                                                   45,000                   

  Accounts payable                                                                                         13,900 

  Interest payable                                                                                            15,000 

  Long-term notes payable                                                                          41,000 

  K. Webb, Capital                                                                                            180,465 

  K. Webb, Withdrawals                                28,000                   

  Trucking fees earned                                                                                  129,000 

  Depreciation expense—Trucks                               24,847                   

  Salaries expense                                           58,156                   

  Office supplies expense                            19,000                   

  Repairs expense—Trucks                          10,664

  Totals                                                                  $417,887                              $417,887 

 

Required:

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

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