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Svetradugi [14.3K]
3 years ago
9

Josey Doakes was reading the balance sheet of Gogoldze Inc. when she spilled grape juice on it. After the juice spill, the balan

ce sheet looked like this:
($ millions) 12/31/2015
Cash 90
Accounts Receivable 210
Inventory 410
Other Current Assets grape
Current Assets juice
Net Property, Plant, & Equipment 1,080
Total Assets grape
juice
Accounts Payable 115
Other Current Liabilities 260
Current Liabilities 375
Long-term Liabilities 860
Common Stock 50
Additional Paid-in-Capital 300
Retained Earnings 285
Total Liabilities and SE 1,870

What was Gogoldze Inc.'s Other Current Assets at 12/31/2015?A. $710B. $120C. $370D. $80E. $790

Business
2 answers:
mixer [17]3 years ago
8 0

Answer:

D. $80

Explanation:

The other assets of the Josey Doakes can be calculated using the accounting equation which is given as follows:

Assets=Liability +equity

Total Assets=Current assets+ Non current assets

=Cash+Accounts receivable+Inventory+other current assets+Net PPE

=90+210+410+other current assets+1,080

=710+other current assets+1,080

=1790+other current assets

Total assets=1790+other current assets

1790+other current assets=Liability +equity

1790+other current assets=1870

Other current assets=1870-1790

                                =$80

So the answer is D. $80  

e-lub [12.9K]3 years ago
7 0

Answer:

The correct option is D. $80

Explanation:

Please see attachment

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