A company provides the following information for the year 2018: Description Amount Description Mortgage payable |(due 2021) $32,510| |Unearned revenue Amount Cash $9,950 $17,500 |Accounts payable $950 |Temporary investments $16,750| |(to be sold within 3 months) $217,500 |Accumulated depreciation $50,000| |Retained earnings $1,350||Salaries payable $23,750||Long-term notes payable |Inventory $6,150| Equipment Common shares Prepaid rent |Accounts receivables $97,500| $15,940| $9,500| $47,500| Compute the current assets for the company. a. $66,500 b. $58,900 c. $57,000 d. $57,950

A company provides the following information for the year 2018: Description Amount Description Mortgage payable |(due 2021) $32,510| |Unearned revenue Amount Cash $9,950 $17,500 |Accounts payable $950 |Temporary investments $16,750| |(to be sold within 3 months) $217,500 |Accumulated depreciation $50,000| |Retained earnings $1,350||Salaries payable $23,750||Long-term notes payable |Inventory $6,150| Equipment Common shares Prepaid rent |Accounts receivables $97,500| $15,940| $9,500| $47,500| Compute the current assets for the company. a. $66,500 b. $58,900 c. $57,000 d. $57,950

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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