Fill in the blanks () with the correct entries. Calculations: (3.) (5.) (6.) (7.) (8.) Assets Liabilities

Fill in the blanks () with the correct entries.

Calculations:
(3.)
(5.)
(6.)
(7.)
(8.)

Transcribed Image Text:

Assets Liabilities and Stockholders' Equitv Current liabilities Accounts pavable Current assets Cash Accounts receivable (1) (1340,000 less) S250,000 S620,000 Notes payable to banks allowance for doubtful accounts of $20,000 1,320,000 130,000 1,410,000 2) Total current assets 2,980.000 5) Accrued wages Taxes owed Total current liabilities Invento 100,000 S1,250,000 3 Land Plant and equipment (S2,800,000 less accumulated depreciation (4) 690,000) 2,110,000 (6) Long-term debt Total assets $5.390.000 Stockholders' equity /Preferred stock 1000.000 (7) Common stock (S1 par, 750,000 shares authorized, 700.000 outstandin 8) Retained earmings Total stockholders' equity S3,140,000