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Presented below is the trial balance of Wildhorse Corporation at December 31, 2020. Debit Credit Cash $383,500 Sales Revenue $15,795,000 Debt Investments (trading) (at cost,
Presented below is the trial balance of Wildhorse Corporation at December 31, 2020.
Debit | Credit | |||
Cash | $383,500 | |||
Sales Revenue | $15,795,000 | |||
Debt Investments (trading) (at cost, $218,000) | 299,000 | |||
Cost of Goods Sold | 9,360,000 | |||
Debt Investments (long-term) | 582,400 | |||
Equity Investments (long-term) | 540,800 | |||
Notes Payable (short-term) | 175,500 | |||
Accounts Payable | 886,600 | |||
Selling Expenses | 3,900,000 | |||
Investment Revenue | 123,500 | |||
Land | 507,000 | |||
Buildings | 2,028,000 | |||
Dividends Payable | 265,200 | |||
Accrued Liabilities | 187,200 | |||
Accounts Receivable | 847,600 | |||
Accumulated DepreciationBuildings | 296,400 | |||
Allowance for Doubtful Accounts | 49,400 | |||
Administrative Expenses | 1,755,000 | |||
Interest Expense | 412,100 | |||
Inventory | 1,163,500 | |||
Gain | 156,000 | |||
Notes Payable (long-term) | 1,755,000 | |||
Equipment | 1,170,000 | |||
Bonds Payable | 1,950,000 | |||
Accumulated DepreciationEquipment | 117,000 | |||
Franchises | 312,000 | |||
Common Stock ($5 par) | 1,950,000 | |||
Treasury Stock | 373,100 | |||
Patents | 380,900 | |||
Retained Earnings | 152,100 | |||
Paid-in Capital in Excess of Par | 156,000 | |||
Totals | $24,014,900 | $24,014,900 |
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 | $ |
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