Question

Baugh and Essary reports the following account balances: inventory of $17,600, equipment of $128,300, accounts payable of $24,700, cash of $11,900, and accounts receivable of $31,900. What is the amount of the current assets?

Answer 1

Answer:

amount of current assets is $61400

Explanation:

given data

inventory = $17600

equipment = $128300

accounts payable = $24700

cash = $11900

accounts receivable = $31900

to find out

the amount of the current assets

solution

we know here that current assets have cash and inventory and account receivable and

account payable is current liability

and equipment is long term assets

so

we can say current assets will be

current assets = inventory + cash + account receivable ....................1

put here value

current assets = 17600 + 11900 + 31900

current assets = $61400

So, current assets = 11,900+17,600+31,900 = 61,400 (Answer)