The following items are taken from the financial statements of Dinkel Company for the year ending December 31, 2010: What are total current assets at December 31, 2010?
A) $26,000
B) $32,000
C) $36,000
D) $218,000

Question

The following items are taken from the financial statements of Dinkel Company for the year ending December 31, 2010:  What are total current assets at December 31, 2010?
A) $26,000 
B) $32,000 
C) $36,000 
D) $218,000

Quizplus · Accepted Answer

According to the financial statements provided, the total current assets at December 31, 2010, are calculated as follows:
Cash and cash equivalents = $9,000
Accounts receivable = $13,000
Inventory = $10,000
Prepaid expenses = $4,000
Total current assets = $9,000 + $13,000 + $10,000 + $4,000 = $36,000. Therefore, the correct answer is C.

The Following Items Are Taken from the Financial Statements of Dinkel