If the difference between current assets and current liabilities is 94.2, bill payable 169.9, creditors 30, prepaid expenses 10, then what is the total current assets? Select one: O a. 294.10 O b. 304.10 O c. 209.90 O d. All the given choices are not correct O e. 124.20

If the difference between current assets and current liabilities is 94.2, bill payable 169.9, creditors 30, prepaid expenses 10, then what is the total current assets? Select one: O a. 294.10 O b. 304.10 O c. 209.90 O d. All the given choices are not correct O e. 124.20

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Description: If the difference between current assets and current liabilities is 94.2, bill payable 169.9,creditors 30, prepaid expenses 10, then what is the total current assets?Select one:O a. 294.10O b. 304.10O c. 209.90O d. All the given choices are not corr

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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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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If the difference between current assets and current liabilities is 94.2, bill payable 169.9,
creditors 30, prepaid expenses 10, then what is the total current assets?
Select one:
O a. 294.10
O b. 304.10
O c. 209.90
O d. All the given choices are not correct
O e. 124.20

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