Danica Company had the following assets at December 31, 2024: Cash (of which P25,000 is earmarked for the acquisition of equipment) 490,000 Trading securities (including P200,000 investment in FVOCI) 380,000 Accounts receivable, net 1,250,000 Non-trade notes receivable (due in equal semi-annual installments of P50,000 every March 1 and September 1) 300,000 Merchandise inventory 900,000 Prepaid expenses 80,000 Plant and equipment, net 3,750,000 How much is Danica Company’s total current asset? Group of answer choices 3,400,000 2,425,000 2,745,000 2,975,000
Danica Company had the following assets at December 31, 2024: Cash (of which P25,000 is earmarked for the acquisition of equipment) 490,000 Trading securities (including P200,000 investment in FVOCI) 380,000 Accounts receivable, net 1,250,000 Non-trade notes receivable (due in equal semi-annual installments of P50,000 every March 1 and September 1) 300,000 Merchandise inventory 900,000 Prepaid expenses 80,000 Plant and equipment, net 3,750,000 How much is Danica Company’s total current asset? Group of answer choices 3,400,000 2,425,000 2,745,000 2,975,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
20
Danica Company had the following assets at December 31, 2024:
|
Cash (of which P25,000 is earmarked for the acquisition of equipment) |
490,000 |
|
Trading securities (including P200,000 investment in FVOCI) |
380,000 |
|
Accounts receivable, net |
1,250,000 |
|
Non-trade notes receivable (due in equal semi-annual installments of P50,000 every March 1 and September 1) |
300,000 |
|
Merchandise inventory |
900,000 |
|
Prepaid expenses |
80,000 |
|
Plant and equipment, net |
3,750,000 |
How much is Danica Company’s total current asset?
Group of answer choices
3,400,000
2,425,000
2,745,000
2,975,000
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