Question
Layano hotel has the following information for the year 2019: Beginning balance -accounts receivable $660,000 Ending balance -accounts receivable $160,000 Beginning balance -Inventory $450,000 Ending
Layano hotel has the following information for the year 2019:
Beginning balance -accounts receivable $660,000
Ending balance -accounts receivable $160,000
Beginning balance -Inventory $450,000
Ending balance -Inventory $360,000
Sales revenue $1,480,000
Cash $ 240,000
Cash equivalent $60,000
Operating Equipment (9 months) $80,000
Operating Equipment (5 years) $300,000
Supplies $20,000
Current liabilities $ 200,000
Property, plant and equipment 690,000
Cash sales revenue represents 30% of the total sales revenue
What is the amount of the current assets?
$ 920,000
$1,890,000
$ 1,200,000
$ 2,190,000
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