ACC225 Preparing Balance Sheets and Statements Week 4 checkpoint… Completed assignment but would lik

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ACC225 Preparing Balance Sheets and Statements Week 4 checkpoint… Completed assignment but would like someone to review and check over. Also give correct answers for anything that was incorrect.

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12/31/2005

7000

16500

2000

25500

170000

35000
135000

75000

210000

235500

11000

60000

11000

7000

3000

128000

220000

52000

22500

74500

142000

436500

12/31/2005

7000

16500

23500

22500

60000

11000

7000

100500

77000

161000

0

-77000

-77000

84000

19000

65000

Webb Trucking Company
Classified Balance Sheet
Assets
Current assets
Cash
Accounts Receivable
Total current assets
Prepaid Expenses
Plant assets
Trucks
Less accumulated depreciation
Land
Total plant assets
Current liabilities
Accounts payable
Interests payable
Trucking fees earned
Salaries Expense
Office supplies expense
Repairs expense
Total current liabilities
Long-term liabilities
Notes payable
Depreciation expense
Total long-term liabilities
Equity
K. Webb, Capital
Total Assets
Total liabilities and equity
Liabilities
Revenues
Accouts Receivable
Income Statement
Total Revenue
Expenses
Depreciation Expense
Wage Expense
Repair Expense
Supplies Expense
Total Expense
Net Loss
Statement of Owners Equity
For Year Ended December 31, 2005
K. Webb Capital December 31, 2004
Add: Investment by owner
Less: Withdrawals by owner
K. Webb Capital December 31, 2005

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