@ ZAT o + A blackboard.pmu.edu.sa Review Test Submission Please a... 3 Intermediate Act 1.202 Assessments - Intermediate Acet What is The acid-test ratio is (rounded)? Question 12 O out of 1 points The December 31, 2013, post-closing trial balance (s in thousands) for Ahmad's Company is X presented below: Debits Credits Cash 22.500 Investments 55,000 Accounts receivable 30.000 Allowance for uncollectible accounts 7.500 Prepaid insurance 4,500 Inventories 100,000 Land 45,000 Buildings 140.000 Accumulated depreciation - buildings 50,000 Equipment 132,500 Accumulated depreciation - equipment 30,000 Patents (unamortized balance) 5,000 Accounts payable 37.500 Notes payable, due 2014 65,000 Interest payable 10,000 Bonds payable, 120,000 Ordinary share capital, no par. 20,000 shares authorized, issued and outstanding 150,000 Retained earnings 64.500 Totals 534.500 534.500 Additional information: 1. The investments account represents an investment in the ordinary shares of another corporation. Ahmad company intends to sell $30,000 of the shares after 6 months. 2. The $140,000 balance in the building account consists of 100,000 for the cost of the building for the offices of the business. The remaining S 40,000 represents the cost of building held for speculations 3. The bond payable is due in annual installments of $24,000 each year. Required: Prepare a classified statement of financial position for Libby Company at December 31, 2013 What is the total current assets? Question 13