Question
The Trial balance below is related to this question and the following question Use the information in the post-closing trial balance presented below to calculate
The Trial balance below is related to this question and the following question
Use the information in the post-closing trial balance presented below to calculate total current assets that will be reported in a classified statement of financial position for Anas Company (The operating cycle for this company is less than one year)
Accounts are not in the normal order.
| Account | Dr | Cr |
| Accounts Payable |
| 12,400 |
| Supplies | 850 |
|
| Inventory | 7,400 |
|
| Vehicles | 20,000 |
|
| Accumulated Depreciation -Vehicles |
| 8,000 |
| Owner Capital |
| 95,350 |
| Mortgage payable (due in 5 years) |
| 70,000 |
| Cash | 6,300 |
|
| Short term investment | 2,500 |
|
| Goodwill | 24,000 |
|
| Prepaid Expenses | 2,600 |
|
| Land | 60,000 |
|
| Land held for future investment | 75,000 |
|
| Notes Receivable (due in 3 months) | 14,000 |
|
| Buildings | 40,000 |
|
| Accumulated Depreciation -Buildings |
| 14,000 |
| Unearned Service Revenue |
| 2,300 |
| long term financial investment | 20,000 |
|
| salaries and wages payable |
| 3,600 |
| Trademarks | 18,000 |
|
| Long term Bonds payable |
| 85,000 |
| Total | $ 290,650 | $ 290,650 |
Numeric Response is
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
