Question
Janson Corporation Co.s trial balance included the following account balances at December 31, 2021: Accounts receivable $ 12,000 Inventory 40,000 Patent 12,000 Investments 30,000 Prepaid
Janson Corporation Co.’s trial balance included the following account balances at December 31, 2021: Accounts receivable $ 12,000 Inventory 40,000 Patent 12,000 Investments 30,000 Prepaid insurance 6,000 Notes receivable, due 2024 50,000 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 Janson’s December 31, 2021, balance sheet?
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
27th edition
978-1337272094, 1337272094, 978-1337514071, 1337514071, 978-1337899451
