Question
CBAs trial balance reflected the following account balances at December 31, 2005: Accounts receivable (net) P1,600,000 Short-term investments 500,000 Accumulated depreciation on equipment and furniture
CBAs trial balance reflected the following account balances at December 31, 2005:
Accounts receivable (net) P1,600,000
Short-term investments 500,000
Accumulated depreciation on equipment and furniture 1,500,000
Cash 1,100,000
Inventory of merchandise 3,000,000
Equipment and furniture 2,500,000
Patent 400,000
Prepaid expenses 100,000
Land held for future business site 1,800,000
In CBAs December 31, 2005 balance sheet, the current assets total is:
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
