eBook Problem 9-03

Fill in the blanks below with the correct entries. Round your answers to the nearest dollar.

Assets Liabilities and Stockholders Equity Current Assets Current liabilities Cash $ 210,000 Accounts payable $ 600,000 Accounts receivable Notes payable to banks 120,000 ($ less allowance for Accrued wages doubtful accounts of $20,000) 1,210,000 Taxes owed 150,000 Inventory 1,740,000 Total current liabilities $ 1,370,000 Total current assets $ Long-term debt Land Stockholders equity Plant and equipment Common stock ($2,090,000 less ($1 par, 790,000 accumulated depreciation shares authorized, $ ) 1,330,000 750,000 outstanding) Total assets $ 4,660,000 Retained earnings Total stockholders equity $ 2,770,000 Total liabilities and equity $