The following accounts appeared on the trail balance of Wildhorse Company at December 31, 2020. Notes...
The following accounts appeared on the trail balance of
Wildhorse Company at December 31, 2020.
| Notes Payable (short-term) | $185,000 | Accounts Receivable | $510,000 | |||
| Accumulated Depreciation - Bldg. | 710,000 | Prepaid Insurance | 52,000 | |||
| Supplies | 36,000 | Common Stock | 1,225,000 | |||
| Salaries and Wages Payable | 27,000 | Unappropriated Retained Earnings | 250,000 | |||
| Debt Investments (long-term) | 200,000 | Inventory | 1,680,250 | |||
| Cash | 190,000 | Land | 500,000 | |||
| Bonds Payable Due 1/1/2028 | 1,000,000 | Trading Securities | 71,000 | |||
| Allowance for Doubtful Accts. | 7,100 | Interest Payable | 5,100 | |||
| Copyrights | 185,000 | Buildings | 1,600,000 | |||
| Notes Receivable (due in 6 months) | 130,000 | Accounts Payable | 420,000 | |||
| Income Taxes Payable | 165,000 | Additional Paid-in Capital | 190,000 | |||
| Preferred Stock | 700,000 | |||||
| Appropriated Retained Earnings | 300,000 |
Compute each of the following:
| 1. | Total current assets | $ | ||
| 2. | Total property, plant, and equipment | $ | ||
| 3. | Total assets | $ | ||
| 4. | Total current liabilities | $ | ||
| 5. | Total stockholders’ equity | $ |
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The following accounts appeared on the trail balance of
Wildhorse Company at December 31, 2020.
Notes...
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