estion 1

1.The balances of select accounts of Sandra Company as of December 31, 2018 are given below:

Debit

Credit

Building

$140,000

Cash

9,000

Office Supplies

1,200

Furniture

6,000

Prepaid Insurance

550

Accumulated DepreciationFurniture

$4,000

Land

31,000

Accumulated DepreciationBuilding

4,000

Accounts Receivable

2,200

The insurance has been prepaid until June 30, 2019. Determine the amount of total current assets reported on the balance sheet at December 31, 2018.

$17,200

$10,200

$12,950

$10,750

Question 2

1.Property, plant, and equipment are __________.

presented in order of the category name, with Land being presented last

also called fixed or plant assets

either tangible or intangible assets

easily converted to cash

Question 3

1.A company has $120,000 in current assets; $550,000 in total assets; $90,000 in current liabilities, and $110,000 in total liabilities. Calculate the current ratio of the company. (Round your answer to two decimal places.)

1.33

1.72

1.75

1.09