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Here are a variety of accounts and their balances. Accounts R/E 2300 C/S 500 Investments 400 Unearned rev 100 Allowance for doubtful accts 100 Inventory
Here are a variety of accounts and their balances.
Accounts
R/E 2300
C/S 500
Investments 400
Unearned rev 100
Allowance for doubtful accts 100
Inventory 300
US T-bills 600
Acc Depreciation 200
Goodwill 400
A/P 400
A/R 300
Cash 1000
Equipment 600
Also, note the following:
Half the cash is reserved for building a store in two years
One third of the US t-bills have 3 month maturities, a third have 7 months, the rest 2 years
Half the investments will be sold this year, the rest will be sold in 3 years
a. What is the balance in cash & cash equivalents?
b. What are total current assets?
c. What are total assets?
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