The balance sheet shows the following accounts and amounts: Inventory, $84,000; Long-term Debt 125,000; Common Stock $60,000; Accounts Payable $44,000; Cash $132,000; Buildings and Equipment $390,000; Short-term Debt $48,000; Accounts Receivable $109,000; Retained Earnings $204,000; Notes Payable $54,000; Accumulated Depreciation $180,000.
Total current assets on the balance sheet are:
A)$216,000
B)$325,000
C)$535,000
D)$715,000

Question

Quizplus · Accepted Answer

Total current assets include Inventory ($84,000), Cash ($132,000), and Accounts Receivable ($109,000), which sum up to $325,000.

The Balance Sheet Shows the Following Accounts and Amounts: Inventory