Pay Company had the following assets at December 31, 2015: Cash (of wich P25,000 is earnmarked...

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Pay Company had the following assets at December 31, 2015: Cash (of wich P25,000 is earnmarked for the acquisition of equipment) P490, 000 Investment in equity securities held for immediate trading (including P200, 000 market value of shares of Pay Company intended to be sold in 2016, purchased for P190, 000) 380,000 Account receivable, net (including P500,000due from anofficer; no due date specified) 1,250,000 Non-trade notes receivable (due in equal semi-unnualnstallments of P50,000 every March 1 and September 1) 300, 000 Merchandise inventory Prepaid expenses Plant and equipment, net How much is Pay Company's total current assets? 900,000 80,000 3,750,000 Pay Company had the following assets at December 31, 2015: Cash (of wich P25,000 is earnmarked for the acquisition of equipment) P490, 000 Investment in equity securities held for immediate trading (including P200, 000 market value of shares of Pay Company intended to be sold in 2016, purchased for P190, 000) 380,000 Account receivable, net (including P500,000due from anofficer; no due date specified) 1,250,000 Non-trade notes receivable (due in equal semi-unnualnstallments of P50,000 every March 1 and September 1) 300, 000 Merchandise inventory Prepaid expenses Plant and equipment, net How much is Pay Company's total current assets? 900,000 80,000 3,750,000

Answer rating: 100% (QA)

To calculate Pay Companys total current assets we need to consider the assets that are classified ... View the full answer