Assets Accounts receivable 2022 2021 Liabilities 2022 2021 $2,700 $3,400 Accounts payable $4,900 $4,000 Cash 1,900...

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Assets Accounts receivable 2022 2021 Liabilities 2022 2021 $2,700 $3,400 Accounts payable $4,900 $4,000 Cash 1,900 2,174 Bonds payable 32,000 27,000 Equipment (net) 49,000 55,000 Notes payable (current) 3,200 2,600 Inventory 4,700 5,200 Notes payable (long-term) 6,000 5,000 Land 27,000 27,000 Supplies 1,392 1,700 Total assets $86,692 $94,474 Total liabilities $46,100 $38,600 Sandhill reported net income of $53,000 for 2022 and $47,000 for 2021. (a) Compute total current assets and total current liabilities for each year. Total current assets Total current liabilities +A $ 2022 A +A $ 2021 Assets Accounts receivable 2022 2021 Liabilities 2022 2021 $2,700 $3,400 Accounts payable $4,900 $4,000 Cash 1,900 2,174 Bonds payable 32,000 27,000 Equipment (net) 49,000 55,000 Notes payable (current) 3,200 2,600 Inventory 4,700 5,200 Notes payable (long-term) 6,000 5,000 Land 27,000 27,000 Supplies 1,392 1,700 Total assets $86,692 $94,474 Total liabilities $46,100 $38,600 Sandhill reported net income of $53,000 for 2022 and $47,000 for 2021. (a) Compute total current assets and total current liabilities for each year. Total current assets Total current liabilities +A $ 2022 A +A $ 2021

Answer rating: 100% (QA)

To calculate the total current assets and total current liabilities for each year based on the pr... View the full answer