Fill in the blanks below with the correct entries. Round your answers to the nearest dollar. Assets Liabilities and Stockholders' Equity Current liabilities Current Assets Cash Accounts receivable ($ less allowance for doubtful accounts of $10,000) Inventory Total current assets $ 190,000 $ 1,470,000 1,290,000 Accounts payable Notes payable to banks Accrued wages Taxes Owed $ 510,000 150,000 180,000 Total current liabilities $ 1,180,000 Long-term debt
Fill in the blanks below with the correct entries. Round your answers to the nearest dollar. Assets Liabilities and Stockholders' Equity Current liabilities Current Assets Cash Accounts receivable ($ less allowance for doubtful accounts of $10,000) Inventory Total current assets $ 190,000 $ 1,470,000 1,290,000 Accounts payable Notes payable to banks Accrued wages Taxes Owed $ 510,000 150,000 180,000 Total current liabilities $ 1,180,000 Long-term debt
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Fill in the blanks below with the correct entries. Round your answers to the nearest dollar.
Liabilities and Stockholders'
Equity
Current liabilities
Assets
Current Assets
Cash
Accounts receivable
($ less allowance for
doubtful accounts of
$10,000)
Inventory
Total current assets
Land
Plant and equipment
($2,260,000 less
accumulated depreciation
$)
Total assets
$ 190,000
$
1,470,000
1,290,000
1,280,000
$ 4,670,000
Accounts payable
Notes payable to banks
Accrued wages
Taxes Owed
Total current liabilities
Long-term debt
Stockholders' equity
Common stock
($1 par, 770,000
shares authorized,
720,000
outstanding)
Retained earnings
Total stockholders
equity
Total liabilities and
equity
$ 510,000
150,000
180,000
$ 1,180,000
$ 2,890,000
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F40c415ff-7276-441c-b197-8593b5cd5ef0%2F2a798c95-43ab-4b90-b493-5f78a14269e1%2F6xzgt8i_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Fill in the blanks below with the correct entries. Round your answers to the nearest dollar.
Liabilities and Stockholders'
Equity
Current liabilities
Assets
Current Assets
Cash
Accounts receivable
($ less allowance for
doubtful accounts of
$10,000)
Inventory
Total current assets
Land
Plant and equipment
($2,260,000 less
accumulated depreciation
$)
Total assets
$ 190,000
$
1,470,000
1,290,000
1,280,000
$ 4,670,000
Accounts payable
Notes payable to banks
Accrued wages
Taxes Owed
Total current liabilities
Long-term debt
Stockholders' equity
Common stock
($1 par, 770,000
shares authorized,
720,000
outstanding)
Retained earnings
Total stockholders
equity
Total liabilities and
equity
$ 510,000
150,000
180,000
$ 1,180,000
$ 2,890,000
$
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