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Analyzing transactions and events Journalizing transactions and events
B. Posting the journal entries H. Preparing the unadjusted trial balance C. Journalizing and posting adjusting entries D. Preparing the adjusted trial balance G. Preparing the financial statements E. Journalizing and posting closing entries A. Preparing the post-closing trial balance
000 3.000 75.500 $170.500 $ 11.000 66.500 2.000 $235.000 210.000 135. 2005 Assets Current assets Cash Accounts receivable Office supplies Total current assets Plant assets Trucks Less accumulated depreciation Land Total plant assets Total assets $ 7. Webb.000 $ 25.Exercise 4-4 Webb Trucking Company Balance Sheet December 31.000 52.000 16.500 $235.000 35.500 Liabilities Current liabilities Accounts payable Interest payable Total current liabilities Long-term liabilities Long-term notes payable Total liabilities Equity K.000 . Capital Total liabilities and equity 169.000 $ 14.
Capital.500 . 2005 K.000 $ 22. Capital.500 $ 27.000 $169.000 11. Webb.500 60.500 19. January 1 Add: Net income Less: Withdrawals by owner K.500 Webb Trucking Company Statement of Owner¶s Equity For Year Ended December 31. Webb.Exercise 4-5 Webb Trucking Company Income Statement For Year Ended December 31.000 100.000 7. December 31 $161.500 188.000 27. 2005 Revenues Trucking fees earned Expenses Depreciation expense ± Trucks Salaries expense Office supplies expense Repairs expense ± Trucks Total expenses Net income $128.