The following accounts appeared on the trial balance of Wildhorse Company at December 31, 2025. Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings Compute each of the following: Total current assets Total assets Total current liabilities $185,000 690,000 42,000 28,000 Unappropriated Retained Earnings Inventory Total stockholders' equity 300,000 190,000 1,300,000 7,300 195,000 140,000 Total property, plant, and equipment 165,000 760,000 210,000 $ LA $ $ SA $ LA Accounts Receivable Prepaid Insurance Common Stock Land Trading Securities Interest Payable Buildings Accounts Payable Additional Paid-in Capital $510,000 57,000 1,025,000 290,000 1,480,250 450,000 79,000 5,100 1,900,000 420,000 130,000

The following accounts appeared on the trial balance of Wildhorse Company at December 31, 2025. Notes Payable (short-term) Accumulated Depreciation - Bldg. Supplies Salaries and Wages Payable Debt Investments (long-term) Cash Bonds Payable Due 1/1/2028 Allowance for Doubtful Accts. Copyrights Notes Receivable (due in 6 months) Income Taxes Payable Preferred Stock Appropriated Retained Earnings Compute each of the following: Total current assets Total assets Total current liabilities $185,000 690,000 42,000 28,000 Unappropriated Retained Earnings Inventory Total stockholders' equity 300,000 190,000 1,300,000 7,300 195,000 140,000 Total property, plant, and equipment 165,000 760,000 210,000 $ LA $ $ SA $ LA Accounts Receivable Prepaid Insurance Common Stock Land Trading Securities Interest Payable Buildings Accounts Payable Additional Paid-in Capital $510,000 57,000 1,025,000 290,000 1,480,250 450,000 79,000 5,100 1,900,000 420,000 130,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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