Question 12
Based on the following data , what is the amount of current assets ? Accounts payable ……………………………………………………….. $ 62,000 Accounts receivable …………………………………………………….. 100,000 Cash ……………………………………………………………………… . 50,000 Intangible assets ………………………………………………………… 100,000 Inventory ………………………………………………………………….
138,000 Long-term investments …………………………………………………. 160,000 Long-term liabilities ……………………………………………………… 200,000 Short-term investments …………………………………………………. 80,000 Notes payable ……………………………………………………………. 56,000 Property , plant , and equipment …………………………………………… 1,340,000 Prepaid insurance ……………………………………………………….. 2,000 Question 13