Preparing a classified balance sheet Account Title Debit
Cash $ 8,000
Accounts receivable 17,500
Office supplies 3,000
Trucks 172,000
Accumulated depreciation Trucks $ 36,000
Land 85,000
Accounts payable 12,000
Interest payable 4,000
Long-term notes payable 58,000
Common stock 15,000
Retained earnings 155,000
Dividends 20,000
Trucking fees earned 130,000
Depreciation expense Trucks 23,500
Salaries expense 61,000
Office supplies expense 8,000
Repairs expense Trucks 12,000
Totals $ 410,000 $ 410,000
Use the above adjusted trial balance to prepare Wilson Trucking Company classified balance sheet as of December 31.

Wilson Trucking Company classified balance sheet as of December 31.

Assets

Non - Current Assets

Trucks                                                     172,000

Accumulated depreciation Trucks       (36,000)    136,000

Land                                                                           85,000

Total Non - Current Assets                                     221,000

Current Assets

Office supplies                                                           3,000

Accounts receivable                                                 17,000

Cash                                                                            8,000

Total Current Assets                                               28,500

Total Assets                                                           249,500

Equity and Liabilities

Equity

Common stock                                                        15,000

Retained earnings                                                 155,000

Dividends                                                               (20,000)

Total Equity                                                             110,000

Liabilities

Non - Current Liabilities

Long-term notes payable                                      58,000

Total Non - Current Liabilities                               58,000

Current Liabilities

Accounts payable                                                   12,000

Interest payable                                                       4,000

Total Current Liabilities                                          16,000

Total Equity and Liabilities                                  249,500

Explanation:

The following appear in the Balance Sheet.

When preparing the Balance Sheet remember the Accounting Equation : Assets = Equity + Liabilities.,

previous business sales - c.

answer; /// i believe that the correct answer is ///making it easy to work with the organization;