Question
The following accounts appeared on the trail balance of Cullumber Company at December 31, 2020. Notes Payable (short-term) $185,000 Accounts Receivable $550,000 Accumulated Depreciation -
The following accounts appeared on the trail balance of Cullumber Company at December 31, 2020.
Notes Payable (short-term) $185,000 Accounts Receivable $550,000
Accumulated Depreciation - Bldg. 840,000 Prepaid Insurance 55,000
Supplies 39,000 Common Stock 1,125,000
Salaries and Wages Payable 30,000 Unappropriated Retained Earnings 280,000
Debt Investments (long-term) 300,000 Inventory 1,580,250
Cash 150,000 Land 490,000
Bonds Payable Due 1/1/2028 1,000,000 Trading Securities 72,000
Allowance for Doubtful Accts. 7,900 Interest Payable 5,900
Copyrights 185,000 Buildings 1,600,000
Notes Receivable (due in 6 months) 140,000 Accounts Payable 480,000
Income Taxes Payable 145,000 Additional Paid-in Capital 150,000
Preferred Stock 760,000
Appropriated Retained Earnings 290,000
Compute each of the following:
1. Total current assets $
2. Total property, plant, and equipment $
3. Total assets $
4. Total current liabilities $
5. Total stockholders' equity $
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