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Score:100 out of 100 points (100%) Assignment Print View http://ezto.mhecloud.mcgraw-hill.com/hm.tpx?todo=printviewSingle1 of 6 2/27/2014 3:18 AM3.award:25 out of25.00points You did not receive credit for this question in a previous attempt Account Title Debit Credit Cash $ 8,600 Accounts receivable 11,000 Office supplies 6,793 Trucks 151,000 Accumulated depreciation—Trucks $ 31,106 Land 44,000 Accounts payable 12,600 Interest payable 19,000 Long-term notes payable 41,000 K. Wilson, Capital 145,293 K. Wilson, Withdrawals 48,000 Trucking fees earned 123,000 Depreciation expense—Trucks 20,063 Salaries expense 57,922 Office supplies expense 14,000 Repairs expense—Trucks 10,621 Totals $371,999 $ 371,999 Use the above adjusted trial balance to prepare Wilson Trucking Company’s classified balance sheet asof December 31, 2013. Assignment Print View http://ezto.mhecloud.mcgraw-hill.com/hm.tpx?todo=printviewSingle2 of 6 2/27/2014 3:18 AM*Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no pointsdeducted.$$$$$$WILSON TRUCKING COMPANYBalance SheetDecember 31, 2013AssetsCurrent assetsCash 8,600Accounts receivable 11,000Office supplies 6,793Total current assets 26,393Plant assetsTrucks 151,000Accumulated depreciation—Trucks (31,106)119,894Land 44,000Total plant assets 163,894Total assets190,287LiabilitiesCurrent liabilitiesAccounts payable 12,600Interest payable 19,000Total current liabilities 31,600Long-term liabilitiesLong-term notes payable 41,000Total liabilities 72,600EquityK. Wilson, Capital 117,687Total liabilities and equity190,287Assignment Print View http://ezto.mhecloud.mcgraw-hill.com/hm.tpx?todo=printviewSingle3 of 6 2/27/2014 3:18 AMrev: 09_30_2013_QC_36773 WorksheetLearning Objective: 04-C3 Explainand prepare a classified balancesheet. Account Title Debit Credit Cash $ 8,600 Accounts receivable 11,000 Office supplies 6,793 Trucks 151,000 Accumulated depreciation—Trucks $ 31,106 Land 44,000 Accounts payable 12,600 Interest payable 19,000 Long-term notes payable 41,000 K. Wilson, Capital 145,293 K. Wilson, Withdrawals 48,000 Trucking fees earned 123,000 Depreciation expense—Trucks 20,063 Salaries expense 57,922 Office supplies expense 14,000 Repairs expense—Trucks 10,621 Totals $371,999 $371,999 Use the above adjusted trial balance to prepare Wilson Trucking Company’s classified balance sheet asof December 31, 2013. Assignment Print View http://ezto.mhecloud.mcgraw-hill.com/hm.tpx?todo=printviewSingle4 of 6 2/27/2014 3:18 AM$$$$$$WILSON TRUCKING COMPANYBalance SheetDecember 31, 2013AssetsCurrent assetsCash 8,600Accounts receivable 11,000Office supplies 6,793Total current assets 26,393Plant assetsTrucks 151,000Accumulated depreciation—Trucks (31,106) 119,894Land 44,000Total plant assets 163,894Total assets190,287LiabilitiesCurrent liabilitiesAccounts payable 12,600Interest payable 19,000Total current liabilities 31,600Long-term liabilitiesLong-term notes payable 41,000Total liabilities 72,600EquityK. Wilson, Capital 117,687Total liabilities and equity190,287 Assignment Print View http://ezto.mhecloud.mcgraw-hill.com/hm.tpx?todo=printviewSingle5 of 6 2/27/2014 3:18 AMrev: 09_30_2013_QC_36773 Explanation: K. Wilson, Capital is computed as: Beginning balance $ 145,293 Plus: Net income ($123,000 – $20,063 – $57,922 – $14,000 – $10,621) 20,394 Less: Withdrawals (48,000) Ending balance $ 117,687 Assignment Print View http://ezto.mhecloud.mcgraw-hill.com/hm.tpx?todo=printviewSingle6 of 6 2/27/2014 3:18


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