What is the value of current assets? $$\begin{array} { l l l l }
\text { Cash } & \$ 50,000 & \text { Irventory } & \$ 9,000 \
\text { Sales } & \$ 30,000 & \text { Accounts Payable } & \$ 9,000 \
\text { Cost of Goods Sold } & \$ 8,000 & \text { Accourts Receivable } & \$ 18,000 \
\text { Prepaid Irsurance } & \$ 8,000 & \text { Insurance Expense } \$ 9,000 & \
& & \text { Long-Tern Liabilities (due withirn one year) } & \$ 30,000
\end{array}$$

Question

What is the value of current assets? $$\begin{array} { l l l l } 
\text { Cash } & \$ 50,000 & \text { Irventory } & \$ 9,000 \
\text { Sales } & \$ 30,000 & \text { Accounts Payable } & \$ 9,000 \
\text { Cost of Goods Sold } & \$ 8,000 & \text { Accourts Receivable } & \$ 18,000 \
\text { Prepaid Irsurance } & \$ 8,000 & \text { Insurance Expense } \$ 9,000 & \
& & \text { Long-Tern Liabilities (due withirn one year) } & \$ 30,000
\end{array}$$

Quizplus · Accepted Answer

Current assets include Cash ($50,000), Inventory ($9,000), Accounts Receivable ($18,000), and Prepaid Insurance ($8,000). Adding these together gives $50,000 + $9,000 + $18,000 + $8,000 = $85,000.

What Is the Value of Current Assets A)$ 50,000 B)$ 58,000 C)$ 85,000 D)$ 115,000

What Is the Value of Current Assets A)$ 50,000
B)$ 58,000
C)$ 85,000
D)$ 115,000