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May 29, 2015

Homework Help: Accounting

Posted by Precious on Wednesday, February 25, 2009 at 10:26pm.

*I don't know where to begin, please HELP*
Use the following adjusted trial balance of Webb Trucking Company to prepare a classified balance
sheet as of December 31, 2005.
Account Title Debit Credit
Cash . . . . $ 7,000
AR . . . . . 16,500
Office Supply 2,000
Trucks . . . 170,000
Accum. depreciation—Trucks $ 35,000
Land .. . . . 75,000
Accounts payable.......... . . 11,000
Interest payable . . . . . . 3,000
Long-term notes payable .. . . 52,000
K.Webb, Capital . . . . . . . 161,000
K.Webb, Wthdrw 19,000
Trucking fees earned ...... . 128,000
Dep. Exp.-Truck 22,500
Salaries . . . 60,000
Office supply exp7,000
Rpr exp—Trucks 11,000
Totals . . . $390,000 $390,000

Check- Total assets, $235,500
K.Webb, Capital, $169,500

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