Reference no: EM133041218
Question - Preparing financial statements - The following adjusted year-end trial balance at December 31 of Wilson Trucking Company.
Account Title
Cash debit $5,400
Accounts receivable debit 16,500
Office supplies debit 2,000
Trucks debit 188,000
Accumulated depreciation-Trucks credit $38,728
Land debit 75,000
Accounts payable credit 9,400
Interest payable credit 3,000
Long-term notes payable credit 52,000
K. Wilson, Capital credit 188,742
K. Wilson, Withdrawals 1debit 9,000
Trucking fees earned credit 118,000
Depreciation expense-Trucks debit 24,980
Salaries expense debit 55,342
Office supplies expense debit 13,500
Repairs expense-Trucks debit 10,148
Totals debit $409,870 credit $409,870
The K. Wilson, Capital account balance was $188,742 at December 31 of the prior year.
Required -
1. Make the income statement for the year ended December 31.
2. Make the statement of owner's equity for the year ended December 31.
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