Question: Churl Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $65,000 Accounts receivable $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 Rent expense Revenues $46,000 $18,000 $101,000 Salary expense $60,000 How much are total assets?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Churl Corporation's adjusted trial balance included the following items (all account balances are normal):
Accounts payable
$65,000
Accounts receivable
$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
Rent expense
Revenues
$46,000
$18,000
$101,000
Salary expense
$60,000
How much are total assets?
Transcribed Image Text:Question: Churl Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $65,000 Accounts receivable $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 Rent expense Revenues $46,000 $18,000 $101,000 Salary expense $60,000 How much are total assets?
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