Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ct Question 46 Montana Corp. prepares the following year end trial balance ($ in millions). Selected Accounts Debit Credit Accounts receivable 710 Building and equipment
ct Question 46 Montana Corp. prepares the following year end trial balance ($ in millions). Selected Accounts Debit Credit Accounts receivable 710 Building and equipment 920 Cash 39 Interest receivable 30 Inventory 16 Land 150 Notes receivable (long-term) 450 Prepaid rent 20 Supplies 8 Trademark 40 Accounts payable 560 Accumulated depreciation 80 Additional paid-in capital 485 Allowance for doubtful accounts 20 Dividends payable 30 Common stock (at par) 15 Income tax payable 65 Notes payable (long-term) 800 Retained earnings 288 Deferred revenue 40 TOTALS 2,383 2,383 What are the total current assets? $803,000,000 $863,000,000 $838.000.000 $823.000.000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started