Question
The trial balance for Canton Incorporated, listed the following account balances at December 31, 2024, the end of Canton Incorporated's fiscal year: cash, $34,000;
The trial balance for Canton Incorporated, listed the following account balances at December 31, 2024, the end of Canton Incorporated's fiscal year: cash, $34,000; accounts receivable, $29,000; inventory, $43,000; equipment (net). $98,000; accounts payable, $32,000; salaries payable, $14,000; interest payable, $10,000; notes payable (due in 20 months), $48,000, common stock, $86,000. Please calculate total current assets and total current liabilities that would appear in the year-end balance sheet of Canton Incorporated. Current assets Current liabilities
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Fundamentals of Corporate Finance
Authors: Richard Brealey, Stewart Myers, Alan Marcus
8th edition
77861620, 978-0077861629
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