On the December 31,balance sheet of a company,current assets included the following items: An examination of the accounts revealed that the accounts receivable balance made up by the following items: What is the correct amount of current assets as of December 31?
A)$500
B)$488
C)$448
D)$442

Question

On the December 31,balance sheet of a company,current assets included the following items:  An examination of the accounts revealed that the accounts receivable balance made up by the following items:  What is the correct amount of current assets as of December 31?
A)$500 
B)$488 
C)$448 
D)$442

Quizplus · Accepted Answer

We need to subtract the accounts receivable balance from the current assets. 
$500 - $12 = $488. Therefore, the correct amount of current assets as of December 31 is $488.

On the December 31,balance Sheet of a Company,current Assets Included