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Presented below is the trial balance of Mellark Corporation at December 31, 2022. Debit Credit Cash Sales Revenue $498,000 $11,250,000 Cost of Goods Sold
Presented below is the trial balance of Mellark Corporation at December 31, 2022. Debit Credit Cash Sales Revenue $498,000 $11,250,000 Cost of Goods Sold 8,050,000 Supplies 126,000 Notes Payable (short-term) 115,000 Accounts Payable Selling Expenses 252,000 2,640,000 Investment Revenue 107,000 Land 630,000 Buildings 1,280,000 Dividends Payable 140,000 Accrued Liabilities 354,000 Accounts Receivable 492,000 Accumulated Depreciation-Buildings 315,000 Allowance for Doubtful Accounts 83,000 Administrative Expenses 1,350,000 Interest Expense 227,000 Inventory 675,000 Unearned Revenue 120,000 Notes Payable (long-term) 550,000 Equipment 890,000 Bonds Payable 1,780,000 Accumulated Depreciation-Equipment 165,000 Supplies Expense 90,000 Common Stock ($5 par) 600,000 Treasury Stock 150,000 Patents 253,000 Retained Earnings 300,000 Additional Paid-in Capital in Excess of 1,220,000 Par - Common Stock Totals $17,351,000 $17,351,000 Compute the amount of Total Current Assets: a) $1,116,000. b) $1,791,000 c) $498,000. d) $1,708,000.
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