Please do not give solution in image format thanku Account TitleCashAccounts receivableoffice suppliesTrucksAccumulated depreciation-TrucksLandAccounts payable.Interest payableLong-term notes payable.K. Wilson, CapitalK. Wilson, WithdrawalsTrucking revenueDepreciation expense-TrucksSalaries expenseoffice supplies expenseInterest expenseTotalsDebit$ 8,30017,800-3,300175,00088,00020,300Credit$.36,30012,9004,30059,500173,000133,00023,80061,9008,30012.300$ 419,000 $ 419,000Exercise 4-10 (Algo) Preparing an income statement & statement of owner's equity LO C1The K. Wilson, Capital account balance was $173.000 at December 31 of the prior year, and there were no owner investments duringthe 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.

Income statement is a financial statement that records all the income and expenses of the business…

Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking revenue Depreciation expense-Trucks Salaries expense office supplies expense Interest expense Totals] Debit $ 8,300 17,800 3,300 175,000 88,000 20,300 23,800 61,900 Credit $.36,300 12,900 4,300 59,500 173,000 133,000 8,300 12,300 $ 419,000 $ 419,000 Exercise 4-10 (Algo) Preparing an income statement & statement of owner's equity LO C1 The K. Wilson, Capital account balance was $173,000 at December 31 of the prior year, and there were no owner investments 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.

Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking revenue Depreciation expense-Trucks Salaries expense office supplies expense Interest expense Totals] Debit $ 8,300 17,800 3,300 175,000 88,000 20,300 23,800 61,900 Credit $.36,300 12,900 4,300 59,500 173,000 133,000 8,300 12,300 $ 419,000 $ 419,000 Exercise 4-10 (Algo) Preparing an income statement & statement of owner's equity LO C1 The K. Wilson, Capital account balance was $173,000 at December 31 of the prior year, and there were no owner investments 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.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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