Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title Debit Credit $6,600 16,500 2,000 192,000 Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks $ 39,552 Land 75,000 10,600 3,000 52,000 179,589 Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks 19,000 133,000 25,511 62,377 7,315 11,438 Totals $417,741 $417,741 1. Calculate the current ratio. (Assume that the industry average for thẻ current ratio is 1.5.) Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio

Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title Debit Credit $6,600 16,500 2,000 192,000 Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks $ 39,552 Land 75,000 10,600 3,000 52,000 179,589 Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks 19,000 133,000 25,511 62,377 7,315 11,438 Totals $417,741 $417,741 1. Calculate the current ratio. (Assume that the industry average for thẻ current ratio is 1.5.) Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio

Name: Use the information in the following adjusted trial balance for the W
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Description: Use the information in the following adjusted trial balance for the Wilson Trucking Company.Account TitleDebitCredit6,60016,5002,000192,000CashAccounts receivableOffice suppliesTrucksAccumulated depreciation-Trucks$ 39,552Land75,00010,6003,00052,000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section: Chapter Questions

Problem 1AP

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Company presents the following selected general ledger accountsshowing balances at October 1, 2017: CashFinished GoodsWork in ProcessRaw materialsPrepaid Insurance Accumulated Depreciation Accounts PayableBalances at October 31, 2017 include: Accrued payrollFinished goodsWork in ProcessRaw MaterialsP 40,000 592,000 164,000 128,0004,000 280,000 108,000P 12,000 608,000 188,000 120,000 A summary of transactions for the month of October follows: a. Cash salesb. Raw materials purchased on account c. Direct materials usedd. Direct Labore. Factory insurance expiredf. Depreciation for factory equipment g. Factory utility service on accounth. Accounts payable paidi. Factory payroll paidP420,000 168,000 156,00064,000 1,200 6,80012,000 196,000 88,000Required: Indirect materials used.Indirect laborTotal factory overhead Cost of goods manufa
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