Tumbling Haven, a gymnastic equipment manufacturer, provided the following information to its accountant. The company had net fixed assets of $356,190, and other assets of $4,176. The firm has current liabilities of $94,792, long-term debt of $76,445, common stock of $200,000, and retained earnings of $134,461. What amount of current assets did this firm have?

Question

Quizplus · Accepted Answer

Current assets = Total assets - Fixed assets - Other assets= ($356,190 + $4,176) - $356,190 - $4,176= $145,332

Tumbling Haven, a Gymnastic Equipment Manufacturer, Provided the Following Information