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Presented below is the trial balance of Cullumber Corporation at December 31, Debit Credit Cash $247,800 Sales Revenue $10,206,000 Debt Investments (trading) (at cost, $218,000)
Presented below is the trial balance of Cullumber Corporation at December 31, Debit Credit Cash $247,800 Sales Revenue $10,206,000 Debt Investments (trading) (at cost, $218,000) 193,200 Cost of Goods Sold 6,048,000 Debt Investments (long-term) 376,320 Equity Investments (long-term) 349,440 Notes Payable (short-term) 113,400 Accounts Payable 572,880 Selling Expenses 2,520,000 Investment Revenue. 79,800 Land 327,600 Buildings 1,310,400 Dividends Payable 171,360 Accrued Liabilities 120,960 Accounts Receivable 547,680 Accumulated Depreciation-Buildings 191,520 Allowance for Doubtful Accounts 31,920 Administrative Expenses 1,134,000 Interest Expense 266,280 Inventory 751,800 Gain 100,800 Notes Payable (long-term) 1,134,000 Equipment 756,000 Bonds Payable 1,260,000 Accumulated Depreciation-Equipment 75,600 Franchises 201,600 Common Stock ($5 par) 1,260,000 Treasury Stock 241,080 Patents 246,120 Retained Earnings 98,280 Paid-in Capital in Excess of Par 100,800 Totals $15.517,320 $15,517,320 Compute each of the following: 1. Total current assets 2. Total property, plant, and equipment 3. Total assets 4. Total liabilities 5. Total stockholders' equity 1 16 S
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