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Bass Tours
the Following Balances Were Taken from the Company's

Question 144

Multiple Choice

Bass Tours
The following balances were taken from the company's records:
 Inventory $380,000 Accounts receivale $190,000 Land 290,000 Accounts payable 180,000 Cash 129,000 Unearned revenue 110,000 Prepaid rent 33,000 Common shares 312,000 Retained eargings 220,000 Long-term notes payable 200,000\begin{array} { l r l r } \text { Inventory } & \$ 380,000 & \text { Accounts receivale } & \$ 190,000 \\\text { Land } & 290,000 & \text { Accounts payable } & 180,000 \\\text { Cash } & 129,000 & \text { Unearned revenue } & 110,000 \\\text { Prepaid rent } & 33,000 & \text { Common shares } & 312,000 \\\text { Retained eargings } & 220,000 & \text { Long-term notes payable } & 200,000\end{array}
-Refer to the figure Bass Tours.How much is the total current assets?


A) $732,000
B) $842,000
C) $974,000
D) $1,022,000

Correct Answer:

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