ACC 561 help A Guide to career/uophelp.com ACC 561 help A Guide to career/uophelp.com | Page 16

December 31, 2017
Cash
$189000
Accounts
payable
$206000
Accounts receivable
146000
Salaries and wages
payable
25000
Inventory
155000
Mortgage
payable
246000
Prepaid insurance
94800
Total
liabilities $477000
Stock investments (long-term)
264000
Land
255000
Buildings
$314000
Common
stock $343800
Less: Accumulated depreciation
(60000)
254000
Retained earnings
744000
Trademarks
207000
Total stockholders'
equity
$1087800
Total assets
$1564800
Total
liabilities and
stockholders' equity
$1564800
$123800
$173800
$383800
$353800
Multiple Choice Question 86
Swifty Corporation has assets of $3590000, common stock of $941000,
and retained earnings of $600000. What are the creditors’ claims on
their assets?