Question 12
Based on the following data, what is the amount of current assets?
Accounts
payable………………………………………………………..
$62,000
Accounts
receivable……………………………………………………..
100,000
Cash………………………………………………………………………
.
50,000
Intangible
assets…………………………………………………………
100,000
Inventory………………………………………………………………….
138,000
Long-term
investments………………………………………………….
160,000
Long-term
liabilities………………………………………………………
200,000
Short-term
investments………………………………………………….
80,000
Notes
payable…………………………………………………………….
56,000
Property, plant, and
equipment……………………………………………
1,340,000
Prepaid
insurance………………………………………………………..
2,000
Question 13