Question
A company reported the following select amounts and balances: Beginning capital balance $48,000, Net Sales $420,000, Cost of Goods Sold $273,000, Total Expenses $112,000, Net
A company reported the following select amounts and balances: Beginning capital balance $48,000, Net Sales $420,000, Cost of Goods Sold $273,000, Total Expenses $112,000, Net Income $35,000, Ending Cash Balance $22,000, Withdrawals $7,200, Ending Accounts Receivable $27,000. What is the total current assets?
Multiple Choice
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$322,000
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$49,000
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$49,600
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$76,800
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$94,600
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$38,200
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College Accounting, Chapters 1-15
Authors: James A. Heintz, Robert W. Parry
21st Edition
1285639723, 9781285639727
