Presented below is the trial balance of Pharoah Corporation at December 31, 2017. Cash Sales Revenue Debt
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Cash Sales Revenue Debt Investments (trading) (at cost, $218,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals Compute each of the following: tA 1. Total current assets 2. Total property, plant, and equipment $ 3. Total assets 4. Total liabilities 5. Total stockholders' equity tA tA tA Debit $265,500 207,000 6,480,000 403,200 374,400 2,700,000 351,000 1,404,000 586,800 1,215,000 285,300 805,500 810,000 216,000 258,300 263,700 Credit $10,935,000 121,500 613,800 85,500 183,600 129,600 205,200 34,200 108,000 1,215,000 1,350,000 81,000 1,350,000 105,300 108,000 $16,625,700 $16.625,700 Cash Sales Revenue Debt Investments (trading) (at cost, $218,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals Compute each of the following: tA 1. Total current assets 2. Total property, plant, and equipment $ 3. Total assets 4. Total liabilities 5. Total stockholders' equity tA tA tA Debit $265,500 207,000 6,480,000 403,200 374,400 2,700,000 351,000 1,404,000 586,800 1,215,000 285,300 805,500 810,000 216,000 258,300 263,700 Credit $10,935,000 121,500 613,800 85,500 183,600 129,600 205,200 34,200 108,000 1,215,000 1,350,000 81,000 1,350,000 105,300 108,000 $16,625,700 $16.625,700
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Solution Solution 1 2 3 4 5 Answer are highlighted in yellow Total Current Assets 265500207... View the full answer
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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