Blythe Industries reports the following account balances: inventory of $417,600, equipment of $2,028,300, accounts payable of $224,700, cash of $51,900, and accounts receivable of $313,900.What is the amount of the current assets?
A)$46,700
B)$56,000
C)$783,400
D)$975,000
E)$699,700

Question

Quizplus · Accepted Answer

Current assets include inventory, cash, and accounts receivable. Adding these amounts: $417,600 (inventory) + $51,900 (cash) + $313,900 (accounts receivable) = $783,400.

Blythe Industries Reports the Following Account Balances: Inventory of $417,600