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Question 4 (1 point) Broad St Corporation Co.'s trial balance included the following account balances at December 31, 2016: Accounts receivable $12,000 Inventories 40,000 Patent
Question 4 (1 point) Broad St Corporation Co.'s trial balance included the following account balances at December 31, 2016: Accounts receivable $12,000 Inventories 40,000 Patent 12,000 Investments 30,000 Prepaid insurance 6,000 Note receivable, due 2019 50,000 Investments consist of treasury bills that were purchased in November and mature in January. Prepaid insurance is for the next two years. What amount should be included in the current asset section of Broad St's December 31, 2016, balance sheet? $85,000. $135,000. $55,000. $88,000. Question 5 (1 point) Broad St Corporation Co.'s trial balance included the following account balances at December 31, 2016: $25,000 22,000 16,000 Accounts payable Bond payable, due 2025 Salaries payable Note payable, due 2017 Note payable, due 2021 20,000 40,000 What amount should be included in the current liability section of Broad St's December 31, 2016, balance sheet? $41,000. $61,000. $101,000. $63,000
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