Use the information given below at 30 June 2016 to answer the following question.
- What is the balance of total assets at 30 June 2016?
A) $400 000
B) $420 000
C) $580 000
D) None of the answers provided

Question

Use the information given below at 30 June 2016 to answer the following question. 
- What is the balance of total assets at 30 June 2016?
A) $400 000 
B) $420 000 
C) $580 000 
D) None of the answers provided

Quizplus · Accepted Answer

The total assets can be calculated as follows: 
Current assets: $100,000 + $200,000 = $300,000 
Non-current assets: $100,000 + $20,000 = $120,000 
Total assets: $300,000 + $120,000 = $420,000. Therefore, the correct answer is B.

Use the Information Given Below at 30 June 2016 to Answer