Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 5 - Balance Sheet and Statement of Cash Flows - Review and Practice - Brief Exercises - Page 238: BE5-1


Current assets Cash $30,000 Add: Accounts receivable $110,000 Less: Allowance for doubtful accounts ($8000) $102,000 Add: Inventory $290,000 Add: Prepaid insurance $9,000 total current assets= $431,500

Work Step by Step

Upon a careful computation of the above figures, the total current assets will total up to= $431,500
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