Required informationUse the following information for the Exercises below.[The following information applies to the questions displayed below.]The following adjusted trial balance at December 31 of Wilson Trucking Company.Account TitleCashAccounts receivableOffice suppliesTrucksAccumulated depreciation-TrucksLandAccounts payableInterest payableLong-term notes payableK. Wilson, CapitalK. Wilson, WithdrawalsTrucking revenueDepreciation expense-TrucksSalaries expenseOffice supplies expenseInterest expenseTotals< Prev7S coDebit$ 8,90018,4003,900181,00094,000920,90024,40063,7008,90012,900$ 437,000of 10Credit$36,90014,7004,90062,500179,000139,000$ 437,000‒‒‒Next Required information(1) Prepare the income statement for the year ended December 31.(2) Prepare the statement of owner's equity for the year ended December 31.Complete this question by entering your answers in the tabs below.The K. Wilson, Capital account balance was $179,000 at December 31 of the prior year, and there were no owner investmentsduring the year.Required 1 Required 2Prepare the income statement for the year ended December 31.WILSON TRUCKING COMPANYRevenuesExpensesIncome StatementFor Year Ended December 31< Prev7SG co89of 10wwwHelpNext >Save & Exit SubmitCheck my work

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Description: Required informationUse the following information for the Exercises below.[The following information applies to the questions displayed below.]The following adjusted trial balance at December 31 of Wilson Trucking Company.Account TitleCashAccounts r

Business

Accounting

The K. Wilson, Capital account balance was $179,000 at December 31 of the prior year, and there were no owner investment during the year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Revenues Expenses Income Statement For Year Ended December 31

The K. Wilson, Capital account balance was $179,000 at December 31 of the prior year, and there were no owner investment during the year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Revenues Expenses Income Statement For Year Ended December 31

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 13PB: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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