Answer the following questions. Pharoah Company Balance Sheet December 31, 2022 Cash $25,000 Accounts payable $ 3,700

 Answer the following questions. 

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Pharoah Company Balance Sheet December 31, 2022 Cash $25,000 Accounts payable $ 3,700 Accounts receivable. 19,200 Salaries and wages payable 2,900 Inventory 11,500 Note payable (due 2025) 150,000 Supplies 1,000 Total liabilities 156,600 Prepaid insurance 2,900 Land 26,800 Buildings $237,000 Common stock 50,000 Less: Accumulated depreciation (105,000) 132,000 Retained earnings 13,900 Trademark 2,100 Total stockholders' equity 63,900 Total assets $220,500 Total liabilities and stockholders' equity $220,500 Compute (a) total current assets and (b) total property, plant and equipment. (a) Total current assets (b) Total property, plant and equipment $ Pharoah Company Balance Sheet December 31, 2022 Cash $25,000 Accounts payable $ 3,700 Accounts receivable. 19,200 Salaries and wages payable 2,900 Inventory 11,500 Note payable (due 2025) 150,000 Supplies 1,000 Total liabilities 156,600 Prepaid insurance 2,900 Land 26,800 Buildings $237,000 Common stock 50,000 Less: Accumulated depreciation (105,000) 132,000 Retained earnings 13,900 Trademark 2,100 Total stockholders' equity 63,900 Total assets $220,500 Total liabilities and stockholders' equity $220,500 Compute (a) total current assets and (b) total property, plant and equipment. (a) Total current assets (b) Total property, plant and equipment $

Answer rating: 100% (QA)

a To compute the total current assets we need to sum up the f... View the full answer