Question
The following information was taken from the accounting records of ZZ, Inc. for the period ended January 31, 2029: Cash $31,000 Retained Earnings $34,000 (at
The following information was taken from the accounting records
of ZZ, Inc. for the period ended January 31, 2029:
Cash $31,000
Retained Earnings $34,000 (at January 1, 2029)
Advertising Expense $17,000
Cost of Goods Sold $24,000
Rental Revenue $15,000
Land $28,000
Supplies $21,000
Equipment $16,000
Accounts Payable $50,000
Common Stock $92,000
Accumulated Depreciation $26,000
Accounts Receivable $70,000
Wages Payable $12,000
Income Tax Expense $10,000
Inventory $46,000
Patent $ 7,000
Wage Expense $14,000
Sales Revenue $98,000
Dividends $ 8,000
Building $35,000
Calculate the amount of total current assets reported in
ZZ, Inc.'s January 31, 2029 balance sheet.
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