Question: Partially correct answer icon Your answer is partially correct. The following accounts appeared on the trail balance of Sunland Company at December 31, 2020. Notes

Partially correct answer icon

Your answer is partially correct.

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 1,472,900
Cash 170,000 Land 420,000
Bonds Payable Due 1/1/2028 1,095,000 Trading Securities 80,000
Allowance for Doubtful Accts. 7,900 Interest Payable 6,000
Copyrights 195,000 Buildings 1,900,000
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 $

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