4
Use the following adjusted trial balance of Hanson Trucking Company to prepare a classified balance sheet as of December 31, 2023.
Account Title
Debit
Credit
Cash
$ 13,000
Accounts receivable
29,600
Office supplies
3,100
Trucks
170,000
Accumulated depreciation, trucks
$ 46,000
Land
275,000
Accounts payable
31,000
Interest payable
400
Long-term notes payable (due in 4 years)
152,000
Stanley Hanson, capital
206,200
Stanley Hanson, withdrawals
19,000
Trucking revenue
168,000
Depreciation expense, trucks
22,500
Salaries expense
58,000
Office supplies expense
6,500
Repairs expense, trucks
6,900
Total
$603,600 $603,600
Required:
Prepare a classified balance sheet.
HANSON TRUCKING COMPANY
Balance Sheet
December 31, 2023
Assets
Current assets