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ABC Company has the following information for the year ended December 31, 2023: Item Amount ($) Cash 700,000 Accounts Receivable 350,000 Inventory 300,000 Prepaid Expenses
- ABC Company has the following information for the year ended December 31, 2023:
| Item | Amount ($) |
|---|---|
| Cash | 700,000 |
| Accounts Receivable | 350,000 |
| Inventory | 300,000 |
| Prepaid Expenses | 160,000 |
| Total Current Assets | ? |
| Property, Plant, Equipment | 2,800,000 |
| Accumulated Depreciation | 1,100,000 |
| Total Assets | ? |
Requirements:
- Calculate the Total Current Assets.
- Calculate the Total Assets.
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Advanced Financial Accounting
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
10th edition
78025621, 978-0078025624
