Clarke Incorporated has the following sets and Sabilities on the company's balance sheet Cash $13,000 Accounts Receivable $15.500 Inventory $4.000, Land $165.000 Patent $45.000 Accounts Payable $23.000; Notes Payable due within one year $20,000 and Bond Payable (due in five years) $225.500 Clarke's amount of current assets would be O $28.500 O $197.500 O $77,500 O $32,500

Clarke Incorporated has the following sets and Sabilities on the company's balance sheet Cash $13,000 Accounts Receivable $15.500 Inventory $4.000, Land $165.000 Patent $45.000 Accounts Payable $23.000; Notes Payable due within one year $20,000 and Bond Payable (due in five years) $225.500 Clarke's amount of current assets would be O $28.500 O $197.500 O $77,500 O $32,500

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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