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2. Daniel Corp.'s trial balance reflected the following account balances at December 31, 2021: Accounts receivable (net) - P24,000; Trading securities - P6,000; Accumulated depreciation on equipment and furniture - P15,000; Cash - P11,000; Inventory -P30,000; Equipment - P25,000; Patent - P4,000; Prepaid expenses - P2,000; Land held for future business site - P18,000. In Daniel's December 31, 2021 statement of financial position, the current assets total is A. 90,000 B. 82,000 C. 77,000 D. 73,000

2. Daniel Corp.'s trial balance reflected the following account balances at December 31, 2021: Accounts receivable (net) - P24,000; Trading securities - P6,000; Accumulated depreciation on equipment and furniture - P15,000; Cash - P11,000; Inventory -P30,000; Equipment - P25,000; Patent - P4,000; Prepaid expenses - P2,000; Land held for future business site - P18,000. In Daniel's December 31, 2021 statement of financial position, the current assets total is A. 90,000 B. 82,000 C. 77,000 D. 73,000

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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2. Daniel Corp.'s trial balance reflected the following account balances at December 31, 2021: Accounts receivable (net) - P24,000; Trading securities - P6,000; Accumulated depreciation on equipment and furniture - P15,000; Cash - P11,000; Inventory -P30,000; Equipment - P25,000; Patent - P4,000; Prepaid expenses - P2,000; Land held for future business site - P18,000. In Daniel's December 31, 2021 statement of financial position, the current assets total is
A. 90,000
B. 82,000
C. 77,000
D. 73,000
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