Listed below are selected account balances for Hemmingway Company for June 30, 2004.
|
Accounts payable |
$95,300 |
Land |
$250,000 |
|
Accounts receivable |
78,100 |
Merchandise inventory |
390,000 |
|
Accumulated depreciation |
318,000 |
Notes payable, current portion |
50,000 |
|
Buildings |
750,000 |
Notes payable, long term |
571,300 |
|
Cash |
34,500 |
Prepaid insurance |
38,000 |
|
Contributed capital700,000 |
700,000 |
Retained earnings |
279,000 |
|
Cost of goods sold |
840,000 |
Supplies on hand |
52,000 |
|
Equipment |
450,000 |
Trademarks |
45,000 |
|
Interest payable |
38,000 |
Wages expense |
375,000 |
|
Wages payable |
36,000 |
Determine each of the following amounts. (Hint: Not all items will be used.)
a. Current assets
b. Current liabilities
c. Property, plant, and equipment
d. Total assets
e. Long term liabilities
f. Total liabilities
g. Stockholders” equity
h. Total liabilities and stockholders” equity
i. Working capital