Elementary Accounting Problems

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71 Total working and trading assets... $ 136, 198. 96 Current assets: Cash $ 344, 654. 11 Accounts rec 125, 279. 34 Notes rec. And int... 41, 286. 39 Total current as- sets $ 511, 219. 84 Sinking fund 12, 334. 72 Deferred charges to exp. 12, 813. 97 Total assets $2, 525, 383. 20 Capital stock (out- standing) : Preferred $1, 000, 000. 00 Common 500, 000. 00 Total cap. Stock. . . $1, 500, 000. 00 ist mtge. 5% bonds (1922) 300, 000. 00 Current liabilities: Taxes accrued $ 14, 025. 00 Salaries and ...wages accrued 18, 927. 34 Accounts payable . . . 87, 316. 75 Notes payable and in- terest 51, 487. 63 Int. Ace. On bonds.... 7, 500. 00 Total current lia- bilities $ 179, 256. 72 Reserve for depr. Of plant and equip 142, 305. 12 Reserve for sinking fund 12, 334. 72 P & L surplus 391, 486. 64 Total liabilities and capital $2, 525, 383. 20 PROBLEM No. 150 (PRACTICE) The following is a trial balance of The National Gelatine Company, September 30, 1912, after closing: Land and buildings, $1, 537, 876.

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