Benchmark Surveyors
The following balances are provided:
$$\begin{array} { l r l r }
\text { Cash } & \$ 234,000 & \text { Accounts payable } & \$ 97,000 \
\text { Inventories } & 121,000 & \text { Notes payable (due 2018) } & 211,000 \
\text { Land } & 453,000 & \text { Accounts receivable } & 46,000
\end{array}$$
-Refer to the figure Benchmark Surveyors.How much is current assets?

Question

Benchmark Surveyors
The following balances are provided:
 $$\begin{array} { l r l r } 
\text { Cash } & \$ 234,000 & \text { Accounts payable } & \$ 97,000 \
\text { Inventories } & 121,000 & \text { Notes payable (due 2018) } & 211,000 \
\text { Land } & 453,000 & \text { Accounts receivable } & 46,000
\end{array}$$
-Refer to the figure Benchmark Surveyors.How much is current assets?

Quizplus · Accepted Answer

Current assets include cash, inventories, and accounts receivable. Adding these gives $234,000 + $121,000 + $46,000 = $401,000.

Benchmark Surveyors the Following Balances Are Provided -Refer to the Figure Benchmark Surveyors

Benchmark Surveyors
the Following Balances Are Provided -Refer to the Figure Benchmark Surveyors