Cash Land Long-term-investments Merchandise inventory Notes receivable (due in 30 days) Notes receivable (due in 5 years) Prepaid insurance Short-term investments Supplies Total assets $ 12,000 30,000 15,000 6,000 O $20,750 O $24,750 O $30,750 O $80,750 1,000 5,000 1,500 10,000 250 $ 80,750 The company's unclassified balance sheet reported the assets listed in the above table. The total current assets that would be reported on a classified balance sheet prepared for the company are:
Cash Land Long-term-investments Merchandise inventory Notes receivable (due in 30 days) Notes receivable (due in 5 years) Prepaid insurance Short-term investments Supplies Total assets $ 12,000 30,000 15,000 6,000 O $20,750 O $24,750 O $30,750 O $80,750 1,000 5,000 1,500 10,000 250 $ 80,750 The company's unclassified balance sheet reported the assets listed in the above table. The total current assets that would be reported on a classified balance sheet prepared for the company are:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Cash
Land
Long-term-investments
Merchandise inventory
Notes receivable (due in 30 days)
Notes receivable (due in 5 years)
Prepaid insurance
Short-term investments
Supplies
Total assets
$ 12,000
30,000
15,000
6,000
1,000
5,000
1,500
10,000
250
$ 80,750
The company's unclassified balance sheet reported the assets listed in the above table. The total current assets that would be
reported on a classified balance sheet prepared for the company are:
O $20,750
O $24,750
O $30,750
O $80,750
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