How much is the total current assets for the year ended December 31, 2016? A. 2,505,000 В. 2,430,000 C. 2,140,000 D. 1,815,000 How much is the total noncurrent assets for the year ended December 31, 2016? A. 2,200,000 В. 1,875,000 C. 1,635,000 D. 1,575,000
How much is the total current assets for the year ended December 31, 2016? A. 2,505,000 В. 2,430,000 C. 2,140,000 D. 1,815,000 How much is the total noncurrent assets for the year ended December 31, 2016? A. 2,200,000 В. 1,875,000 C. 1,635,000 D. 1,575,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Use the following information for the next two (2) questions:
Emerald Company's trial balance reflected the following account balances on December 31, 2016:
Cash in bank - Dog Bank
200,000
Accounts receivable
750,000
Inventory
600,000
Prepaid insurance
120,000
Prepaid rent (P120,000 per year for the next 3 years)
360,000
Financial assets at fair value through profit or loss
150,000
Financial assets at fair value through other comprehensive income
300,000
Financial assets at amortized cost
500,000
Deferred tax asset
75,000
Bank overdraft – Dog Bank
125,000
Machinery
400,000
Accumulated depreciation
100,000
Noncurrent assets held for sale – land
325,000
Building used as a plant site
460,000
Transcribed Image Text:How much is the total current assets for the year ended December 31, 2016?
A. 2,505,000
В.
2,430,000
C. 2,140,000
D. 1,815,000
How much is the total noncurrent assets for the year ended December 31, 2016?
A. 2,200,000
В. 1,875,000
C. 1,635,000
D.
1,575,000
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