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-   -   Classified Balance Sheet (https://www.askmehelpdesk.com/showthread.php?t=345413)

  • Apr 23, 2009, 10:38 PM
    jlashlet50
    Classified Balance Sheet
    Use the following adjusted trial balance of Webb Trucking Company to prepare a classified balance sheet as of December 31, 2005.

    Cash.. . $ 7,000
    Accounts receivable.. . 16,500
    Office supplies.. . 2,000
    Trucks.. . 170,000
    Accumulated 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, Withdrawals.. . 19,000
    Trucking fees earned.. . 128,000
    Depreciation expense—Trucks.. . 22,500
    Salaries expense.. . 60,000
    Office supplies expense.. . 7,000
    Repairs expense—Trucks.. . 11,000
    Totals.. . $390,000 $390,000
  • Apr 24, 2009, 12:31 AM
    morgaine300

    Please see the guidelines for posting homework problems at the top of this page in the big red print. You need to make some atttempt at doing your own work as we are not here to do it for you.

    There's an example of a classified balance sheet here:
    Principles of Accounting Chapter 4

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