16. Ludwig Company showed the following current assets as year-end:Cash3,200,000Accounts Receivable2,500,000Inventory2,000.000Total Current AssetsZ000.000Cash on hand, including customer postdated checkP100,000 and 10U P50,000500,000Cash in bank per bank statement (outstandingCheck at year-end P200,000)2.000.0003,200,000Total cashWhat total amount should be reported as current assets?a. 7,700,000b. 7,450,000c. 7,400,000d. 7,500,000

Current asset are include those cash equivalent, stock, inventory and other liquid asset

Answered: What total amount should be reported as…

Business

Accounting

What total amount should be reported as current assets? a. 7,700,000 b. 7,450,000 c. 7,400,000 d. 7,500,000

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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