Solution-Use the above adjusted trial balance

Use the above adjusted trial balance

Assignment Help Financial Accounting

Reference no: EM13509039

Preparing a classified balance sheet L.O. C4

Account Title	Debit		Credit
Cash	$	7,600
Accounts receivable		14,500
Office supplies		7,590
Trucks		186,000
Accumulated depreciation%u2014Trucks			$	38,316
Land		48,000
Accounts payable				11,600
Interest payable				9,000
Long-term notes payable				53,000
Common stock				17,000
Retained earnings				154,078
Dividends		36,000
Trucking fees earned				128,000
Depreciation expense%u2014Trucks		24,714
Salaries expense		64,722
Office supplies expense		10,000
Repairs expense%u2014Trucks		11,868

Totals	$	410,994	$	410,994

Use the above adjusted trial balance to prepare Webb Trucking Companys classified balance sheet as of December 31, 2011.

Asset

Current Assets

total current Asset

Plan Assets

total Plan Assets

Total Assets

Liabilities

Current Liabilities

total current liabilities

total liabilities

Equity

Total equity

Total liabilities and Equity

Reference no: EM13509039

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Use the above adjusted trial balance

Reference no: EM13509039

Reference no: EM13509039

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