The following accounts appeared on the trail balance of Sunland Company at December 31, 2020.Notes Payable (short-term) $195,000 Accounts Receivable $600,000Accumulated Depreciation - Bldg. 670,000 Prepaid Insurance 57,000Supplies 38,000 Common Stock 1,225,000Salaries and Wages Payable 29,000 Unappropriated Retained Earnings 300,000Debt Investments (long-term) 300,000 Inventory 1,480,250Cash 170,000 Land 420,000Bonds Payable Due 1/1/2028 1,300,000 Trading Securities 80,000Allowance for Doubtful Accts. 7,900 Interest Payable 6,000Copyrights 195,000 Buildings 1,700,000Notes Receivable (due in 6 months) 130,000 Accounts Payable 430,000Income Taxes Payable 155,000 Additional Paid-in Capital 200,000Preferred Stock 790,000 Appropriated Retained Earnings 260,000 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 $The following accounts appeared on the trail balance of Sheridan Company at December 31, 2020.Notes Payable (short-term) $195,000 Accounts Receivable $510,000Accumulated Depreciation - Bldg. 730,000 Prepaid Insurance 60,000Supplies 35,000 Common Stock 1,025,000Salaries and Wages Payable 30,000 Unappropriated Retained Earnings 250,000Debt Investments (long-term) 240,000 Inventory 1,680,250Cash 130,000 Land 440,000Bonds Payable Due 1/1/2028 1,100,000 Trading Securities 73,000Allowance for Doubtful Accts. 7,300 Interest Payable 5,400Copyrights 195,000 Buildings 1,600,000Notes Receivable (due in 6 months) 130,000 Accounts Payable 420,000Income Taxes Payable 155,000 Additional Paid-in Capital 100,000Preferred Stock 730,000 Appropriated Retained Earnings 240,000 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 $

Name: The following accounts appeared on the trail balance of Sunland Compan
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Description: The following accounts appeared on the trail balance of Sunland Company at December 31, 2020.Notes Payable (short-term) $195,000 Accounts Receivable $600,000Accumulated Depreciation - Bldg. 670,000 Prepaid Insurance 57,000Supplies 38,000 Common Stock

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Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter1: Introduction To Accounting And Business

Section: Chapter Questions

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The following accounts appeared on the trail balance of Sunland Company at December 31, 2020.

Notes Payable (short-term)	$195,000	Accounts Receivable	$600,000
Accumulated Depreciation - Bldg.	670,000	Prepaid Insurance	57,000
Supplies	38,000	Common Stock	1,225,000
Salaries and Wages Payable	29,000	Unappropriated Retained Earnings	300,000
Debt Investments (long-term)	300,000	Inventory	1,480,250
Cash	170,000	Land	420,000
Bonds Payable Due 1/1/2028	1,300,000	Trading Securities	80,000
Allowance for Doubtful Accts.	7,900	Interest Payable	6,000
Copyrights	195,000	Buildings	1,700,000
Notes Receivable (due in 6 months)	130,000	Accounts Payable	430,000
Income Taxes Payable	155,000	Additional Paid-in Capital	200,000
Preferred Stock	790,000
Appropriated Retained Earnings	260,000

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	$

The following accounts appeared on the trail balance of Sheridan Company at December 31, 2020.

Notes Payable (short-term)	$195,000	Accounts Receivable	$510,000
Accumulated Depreciation - Bldg.	730,000	Prepaid Insurance	60,000
Supplies	35,000	Common Stock	1,025,000
Salaries and Wages Payable	30,000	Unappropriated Retained Earnings	250,000
Debt Investments (long-term)	240,000	Inventory	1,680,250
Cash	130,000	Land	440,000
Bonds Payable Due 1/1/2028	1,100,000	Trading Securities	73,000
Allowance for Doubtful Accts.	7,300	Interest Payable	5,400
Copyrights	195,000	Buildings	1,600,000
Notes Receivable (due in 6 months)	130,000	Accounts Payable	420,000
Income Taxes Payable	155,000	Additional Paid-in Capital	100,000
Preferred Stock	730,000
Appropriated Retained Earnings	240,000

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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