The following information is given for Camino Company:
$\begin{array}{lrlr}
\text { Cash } & \$ 50,000 & \text { Inventory } & \$ 45,000 \
\text { Land } & 75,000 & \text { Accumulated depreciation } & 40,000 \
\text { Plant and equipment } & 150,000 & \text { Accounts payable } & 60,000
\end{array}$ What are the company's current assets?
A)$220,000
B)$155,000
C)$130,000
D)$ 95,000

Question

The following information is given for Camino Company:  
$\begin{array}{lrlr}
\text { Cash } & \$ 50,000 & \text { Inventory } & \$ 45,000 \
\text { Land } & 75,000 & \text { Accumulated depreciation } & 40,000 \
\text { Plant and equipment } & 150,000 & \text { Accounts payable } & 60,000
\end{array}$ What are the company's current assets?
A)$220,000
B)$155,000
C)$130,000
D)$ 95,000

Quizplus · Accepted Answer

Current assets include cash and inventory, which total $50,000 + $45,000 = $95,000.

The Following Information Is Given for Camino Company What Are the Company's Current Assets? A)$220,000 B)$155,000 C)$130,000 D)

The Following Information Is Given for Camino Company What Are the Company's Current Assets?
A)$220,000
B)$155,000
C)$130,000
D)