Question
Janson Corporation Co.'s trial balance included the following account balances at December 31, 2021: Accounts receivable $12,300 Inventory 41,000 Patent 13,900 Investments 30,500 Prepaid insurance
Janson Corporation Co.'s trial balance included the following account balances at December 31, 2021:
| Accounts receivable | $12,300 |
| Inventory | 41,000 |
| Patent | 13,900 |
| Investments | 30,500 |
| Prepaid insurance | 6,400 |
| Notes receivable, due 2024 | 51,400 |
Investments consist of treasury bills that were purchased in November, 2021, and mature in January, 2022. Prepaid insurance is for two years. What amount should be included in the current assets section of Jansons December 31, 2021, balance sheet?
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I Love My Awesome Auditor
Authors: Lovely Hearts Publishing
1st Edition
1794298169, 978-1794298163
