A firm reports the following balance sheet items; total current liabilities of $535,000; total assets of $2,500,000; net working capital of $115,000; and long-term debt of $200,000.What is the amount of the firm's current assets?
A)$1,315,000
B)$1,965,000
C)$650,000
D)$735,00

Question

Quizplus · Accepted Answer

Current Assets = Net Working Capital + Total Current Liabilities
Current Assets = $115,000 + $535,000
Current Assets = $650,000

A Firm Reports the Following Balance Sheet Items; Total Current