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
total current liabilities
total liabilities
Equity
Total equity Total liabilities and Equity
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