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ABC Company has the following information for the year ended December 31, 2023: Item Amount ($) Cash 150,000 Accounts Receivable 70,000 Inventory 45,000 Prepaid Expenses
- ABC Company has the following information for the year ended December 31, 2023:
| Item | Amount ($) |
|---|---|
| Cash | 150,000 |
| Accounts Receivable | 70,000 |
| Inventory | 45,000 |
| Prepaid Expenses | 20,000 |
| Total Current Assets | ? |
| Property, Plant, Equipment | 500,000 |
| Accumulated Depreciation | 100,000 |
| Total Assets | ? |
Requirements:
- Calculate the Total Current Assets.
- Calculate the Total Assets.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
11th Canadian edition Volume 1
1119048532, 978-1119048534
