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BALACE SHEET PROBLEM: Woodrow Company has completed the accounting cycle for the second year of its operations ended Dec. 31, Y24. Below find balances for

BALACE SHEET PROBLEM: Woodrow Company has completed the accounting cycle for the second year of its operations ended Dec. 31, Y24. Below find balances for all of its balance sheet accounts in an alphabetical order. All accounts have usual normal balances in USD.

Complete the classified balance sheet at the end of the reporting year and determine the following:

Accounts Payable

2,700

Accounts Receivable (Net of Allowance for Doubtful Accounts of $300)

6,700

Accumulated Depreciation - Equipment

9,000

Cash

500

Common Stock

500

Equipment at cost

18,000

Goodwill

2,000

Inventory

3,000

Land

8,000

LT Bonds Payable

14,000

Premium on LT Bonds Payable

500

Paid In Capital in Excess of Par

4,500

Retained Earnings

7,000

Taxes Payable

1,000

Treasury Stock

1,000

a. What is the dollar amount of the current assets?

b. What is the dollar amount of the total assets?

c. What is the dollar amount of the current liabilities?

d. What is the dollar amount of the total liabilities?

e. What is the dollar amount of the total stockholders equity?

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