Question

Calculate a company’s Current Assets based on the following data from its Balance Sheet: Cash - $100,000; Accounts Receivable - $18,000; Equipment - $75,000; Property - $90,000; Inventory - $50,000. a. $168,000 b. $333,000 c. $243,000 d. $118,000

Answer 1

Answer:

a. $168,000

Explanation:

The computation of the current asset is shown below:

= Cash + Account receivable + inventory

= $100,000 + $18,000 + $50,000

= $168,000

The current assets show a combination of the cash, account receivable, and the inventory account that is to be converted into cash within one year. The rest of the items displayed the long term assets. Hence, ignored it