Use the following data to determine the total dollar amount of assets to be classified as current assets. Nighthawk Corporation Balance Sheet December
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Use the following data to determine the total dollar amount of assets to be classified as current assets.
| Nighthawk Corporation | |||||
| December 31, 2020 | |||||
| Cash | $130,000 | Accounts payable | $151,000 | ||
| 123,800 | Salaries and wages payable | 27,700 | |||
| Inventory | 208,500 | Note payable (due 2025) | 270,400 | ||
| Supplies | 94,400 | Total liabilities | $449,100 | ||
| Land | 538,500 | ||||
| Buildings | $335,500 | Common stock | $360,000 | ||
| Less: |
(56,100) | 279,400 | 779,800 | ||
| Franchise | 214,300 | Total |
$1,139,800 | ||
| Total assets | $1,588,900 | Total liabilities and stockholders' equity | $1,588,900 |
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