Exercise 3-12 Preparing a classified balance sheet
Exercise 3-12 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 | |||
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Totals | $ | 410,994 | $ | 410,994 |
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Use the above adjusted trial balance to prepare Webb Trucking Company%u2019s classified balance sheet as of December 31, 2011.
Asset
Current Assets
total current Asset
Plan Assets
total Plan Assets
Total Assets
Liabilities
Current Liabilities
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total liabilities
Equity
Total equity
Total liabilities and Equity
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