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Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable Accounts receivable $65,000 $42,000 Capital stock Cash $100,000 $50,000 Dividends $10,000 Goodwill $47,000 Interest expense $4,000 Interest payable $2,000 Inventory $26,000 Notes payable $80,000 Prepaid expenses $5,000 Property, plant & equipment $123,000 Retained earnings $46,000 Rent expense $18,000 Revenues $101,000 Salary expense $60,000 How much are total assets?

Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable Accounts receivable $65,000 $42,000 Capital stock Cash $100,000 $50,000 Dividends $10,000 Goodwill $47,000 Interest expense $4,000 Interest payable $2,000 Inventory $26,000 Notes payable $80,000 Prepaid expenses $5,000 Property, plant & equipment $123,000 Retained earnings $46,000 Rent expense $18,000 Revenues $101,000 Salary expense $60,000 How much are total assets?

FINANCIAL ACCOUNTING
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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Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable Accounts receivable $65,000 $42,000 Capital stock Cash $100,000 $50,000 Dividends $10,000 Goodwill $47,000 Interest expense $4,000 Interest payable $2,000 Inventory $26,000 Notes payable $80,000 Prepaid expenses $5,000 Property, plant & equipment $123,000 Retained earnings $46,000 Rent expense $18,000 Revenues $101,000 Salary expense $60,000 How much are total assets?
Transcribed Image Text:Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable Accounts receivable $65,000 $42,000 Capital stock Cash $100,000 $50,000 Dividends $10,000 Goodwill $47,000 Interest expense $4,000 Interest payable $2,000 Inventory $26,000 Notes payable $80,000 Prepaid expenses $5,000 Property, plant & equipment $123,000 Retained earnings $46,000 Rent expense $18,000 Revenues $101,000 Salary expense $60,000 How much are total assets?
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