Bevco Company has provided the following information from its accounting records for the current year:
$\begin{array}{lrlr}
\text { Cash } & \$ 55,000 & \text { Accounts receivable } & \$ 45,000 \
\text { Inventory } & 65,000 & \text { Land } & 75,000 \
\text { Accounts payable } & 50,000 & \text { Notes payable (due 2021) } & 150,000 \
\text { Retained earnings } & ? & \text { Capital stock } & 20,000
\end{array}$
-Read the information for Bevco Company.What are Bevco' current assets?
A)$100,000
B)$165,000
C)$210,000
D)$240,000

Question

Bevco Company has provided the following information from its accounting records for the current year:
 $\begin{array}{lrlr}
\text { Cash } & \$ 55,000 & \text { Accounts receivable } & \$ 45,000 \
\text { Inventory } & 65,000 & \text { Land } & 75,000 \
\text { Accounts payable } & 50,000 & \text { Notes payable (due 2021) } & 150,000 \
\text { Retained earnings } & ? & \text { Capital stock } & 20,000
\end{array}$
-Read the information for Bevco Company.What are Bevco' current assets?
A)$100,000
B)$165,000
C)$210,000
D)$240,000

Quizplus · Accepted Answer

Current assets include cash, accounts receivable, and inventory, which sum up to $55,000 + $45,000 + $65,000 = $165,000.

Bevco Company Has Provided the Following Information from Its Accounting