Question
Henderson Corporations trial balance for July 31, the end of its fiscal year, included the following accounts Accounts Receivable $21,000P Inventories 57,000 Copyright 18,000 Prepaid
- Henderson Corporations trial balance for July 31, the end of its fiscal year, included the following accounts
| Accounts Receivable | $21,000P |
| Inventories | 57,000 |
| Copyright | 18,000 |
| Prepaid insurance | 6,000 |
| Note receivable, due in two years | 74,000 |
| Cash in Bank | 4,500 |
|
|
|
Investments are Treasury Bills that were purchased in May and mature on August 15. Prepaid Insurance is a three-year policy that was purchased on July 31.
The amount that should e classified as current assets in the July 31 balance sheet is _______.
- $129,500
- $125,500
- $82,000
- $199,500
Please show step by step how to work this problem.
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Social Media Audit And Stats Audit And Statistics For Social Media Platforms
Authors: Virtual Desk Tools
1st Edition
B09JDX8Z9M, 979-8492994938
