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Presented below is the trial balance of Pharoah Corporation at December 31, 2020. Debit Credit $265,500 Cash $10,935,000 Sales Revenue Debt Investments (trading) (at cost,
Presented below is the trial balance of Pharoah Corporation at December 31, 2020. Debit Credit $265,500 Cash $10,935,000 Sales Revenue Debt Investments (trading) (at cost, $218,000) 207,000 Cost of Goods Sold 6,480,000 Debt Investments (long-term) 403,200 Equity Investments (long-term) 374,400 Notes Payable (short-term) 121,500 Accounts Payable 613,800 Selling Expenses 2,700,000 Investment Revenue 85,500 Land 351,000 Buildings 1,404,000 Dividends Payable 183.600 Accrued Liabilities 129,600 Accounts Receivable 586,800 Accumulated Depreciation-Buildings 205,200 Allowance for Doubtful Accounts 34,200 Administrative Expenses 1.215.000 Interest Expense 285,300 Inventory 805,500 Gain 108,000 Notes Payable (long-term) 1,215,000 810,000 Equipment Bonds Payable Accumulated Depreciation-Equipment 1,350,000 81,000 Franchises 216,000 Common Stock ($5 par) 1,350,000 Treasury Stock 258,300 263,700 Patents Retained Earnings 105,300 Paid-in Capital in Excess of Par 108,000 Totals $16,625,700 $16,625,700 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 +O Lo +o
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