Solved

Based on the Following Data, What Is the Amount of Current

Question 117

Multiple Choice

Based on the following data, what is the amount of current assets? Accounts payable $62,000 Accounts receivable100,000Cash 70,000Intangible assets 100,000 Inventory.138,000Long-term investments 160,000Long-term liabilities 200,000Short-term investments. 80,000Notes payable 56,000 Property, plant, and equipment1,340,000Prepaid insurance 2,000\begin{array} { l } \text {Accounts payable }&\$ 62,000\\ \text { Accounts receivable}&100,000\\ \text {Cash }&70,000\\ \text {Intangible assets }&100,000\\ \text { Inventory.}&138,000\\ \text {Long-term investments }&160,000\\ \text {Long-term liabilities }&200,000\\ \text {Short-term investments. }&80,000\\ \text {Notes payable }&56,000\\ \text { Property, plant, and equipment}&1,340,000\\ \text {Prepaid insurance }&2,000\\\end{array}


A) $232,000
B) $390,000
C) $252,000
D) $250,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents