Ankaran Enterprises currently has $800 in cash, and total assets of $20,400. The company owes $1,400 to suppliers for merchandise and $5, 100 to the bank for a long-term loan. Customers owe Ankaran's $1,100. The inventory has a book value of $4,400 and an estimated market value of $5,500. If Ankaran's compiled a financial statement today, how much would it show as the value of the current assets?

Ankaran Enterprises currently has $800 in cash, and total assets of $20,400. The company owes $1,400 to suppliers for merchandise and $5, 100 to the bank for a long-term loan. Customers owe Ankaran's $1,100. The inventory has a book value of $4,400 and an estimated market value of $5,500. If Ankaran's compiled a financial statement today, how much would it show as the value of the current assets?

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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