The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company....

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The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Credit Debit $ 7,300 1 Use the above adjusted trial balance to prepare Wilson Trucking Companys classified balance sheet as of December 31, 2018. W

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Answer 1

Answer #1

WILSON TRUCKING COMPANY

Balance sheet

December 31

Assets
Current assets
Cash	7300
Account receivable	17500
Office supplies	3900
Total Current assets		28700
Property plant and equipment
Truck	179000
Less: Accumulated depreciation	-41000	138000
Land		82200
Total property, plant and equipment		220200
Total assets		248900
Liabilities and stockholder's equity
Current liabilities
Account payable	12300
Interest payable	3700
Total current liabilities		16000
Long term liabilities
Notes payable		61000
Total liabilities		77000
Stockholder's equity
Common Stock	20600
Retained earnings	151300
Total equity		171900
Total liabilities and stockholder's equity		248900

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Answer 2

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