accounts payable 62000
wages payable 21000
interest payable 24000
notes payable 34000
mortgage payable 84000
common stock 69000
retained earnings 57000
land 114000
long term investment in stocks 36000
notes receivable (due in 3 yrs) 26000
accounts receivable 24000
cash 26000
prepaid expenses 10800
supplies 10200
intangible assets 15000
trucks 15k accumulated depreciation 12000
inventory 55000
Homework Answers
1.
| Current Assets: | |
| Cash | 26,000 |
| Accounts receivable | 24,000 |
| Supplies | 10,200 |
| Prepaid expenses | 10,800 |
| Inventory | 55,000 |
| Total Current Assets | $126,000 |
2.
| Current Liabilities: | |
| Accounts payable | 62,000 |
| Wages payable | 21,000 |
| Interest payable | 24,000 |
| Total Current Liabilities | $107,000 |
3.
| Plant Assets | ||
| Truck | 15,000 | |
| Less: Accumulated depreciation | -12,000 | 3,000 |
| Land | 114,000 | |
| Total Plant Assets | $117,000 | |
Kindly comment if you need further assistance. Thanks‼!
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accounts payable 62000
wages payable 21000
interest payable 24000
notes payable 34000
mortgage payable 84000
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