Huron has provided the following year-end balances: Cash, $25,000
Patents, $7,900
Accounts receivable, $9,300
Property, plant, and equipment, $98,700
Prepaid insurance, $3,600
Accumulated depreciation, $10,000
Inventory, $37,000
Trademarks, $12,600
Goodwill, $11,000
How much are Huron's current assets?
A) $85,900.
B) $71,300.
C)$74,900.
D)$102,100.

Question

Quizplus · Accepted Answer

To find the current assets, we need to add up all the assets that can be easily converted into cash within one year. Current assets include cash, accounts receivable, prepaid expenses, and inventory. Therefore, current assets = $25,000 + $9,300 + $3,600 + $37,000 = $74,900.

Huron Has Provided the Following Year-End Balances: Cash, $25,000