Yukon Inc. has the following adjusted trial balance with accounts listed in alphabetical order at December 31, 2020. Account Title Debit Credit Accounts Payable Accumulated Depreciation, Equipment Accumulated Depreciation, Truck Cash Equipment Operating Expenses Merchandise Inventory Notes Payable Notes Receivable Revenue Truck Wages Payable /Yukon Skookum, Capital /Yukon Skookum, Withdrawals Total $ 41,625.00 99,700 38.250 $115,000.00 373.875 38,150 34,250 501.000 115,500 50.750 102,000 30,250 28,500 11.300 $790,075.00 $790,075.00 For the Notes Payable - $60,550 is due in 2021. For the Notes Receivable - $41,500 will be collected in 2021 What will the total be for current assets on the classified balance sheet for December 31, 2020?
Yukon Inc. has the following adjusted trial balance with accounts listed in alphabetical order at December 31, 2020. Account Title Debit Credit Accounts Payable Accumulated Depreciation, Equipment Accumulated Depreciation, Truck Cash Equipment Operating Expenses Merchandise Inventory Notes Payable Notes Receivable Revenue Truck Wages Payable /Yukon Skookum, Capital /Yukon Skookum, Withdrawals Total $ 41,625.00 99,700 38.250 $115,000.00 373.875 38,150 34,250 501.000 115,500 50.750 102,000 30,250 28,500 11.300 $790,075.00 $790,075.00 For the Notes Payable - $60,550 is due in 2021. For the Notes Receivable - $41,500 will be collected in 2021 What will the total be for current assets on the classified balance sheet for December 31, 2020?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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/Yukon Inc. has the following adjusted trial balance with accounts listed in alphabetical order at December 31, 2020.
Account Title
Debit
Credit
Accounts Payable
Accumulated Depreciation , Equipment
Accumulated Depreciation, Truck
Cash
Equipment
Operating Expenses
Merchandise Inventory
Notes Payable
Notes Receivable
Revenue
Truck
Wages Payable
/Yukon Skookum, Capital
/Yukon Skookum, Withdrawals
Total
$ 41,625.00
99,700
38.250
$115,000.00
373.875
38,150
34,250
501.000
115,500
50.750
102,000
30,250
28,500
11.300
$790,075.00
$790,075.00
For the Notes Payable - $60,550 is due in 2021. For the Notes Receivable - $41,500 will be collected in 2021
What will the total be for current assets on the classified balance sheet for December 31, 2020?
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