Sorenson Company had the following account totals as of December 31, 20X2. 150,000 Cost of goods sold 100.000 Acc

 

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Sonenson Company had the following account totals as of December 31.20x2 150.000 Cost of gods sold 200.000 Accounts recelable 10,000 Rent revetue 25.000 Accounts payable 200.000 Sales Inventory 50.000 Bank Loan Payable 20.000 Ca 18.000 Retaned eamings (beginning of war, January 1.20X280.000 Prepad insurance (6-month insuriance poliey 15,000 Palt-in apital 38.000 Equipment 45.000 Unearmed rent revenoe (9-month contract 5.000 "Of the $20.000 bank loan payable, $15.000 will be repaid in 20X3. What are Sorensan Company's TOTAL CURRENT ASSETS? Het An item that appears in the income statenvent does NOT also appear in the halance sheet Sonenson Company had the following account totals as of December 31.20x2 150.000 Cost of gods sold 200.000 Accounts recelable 10,000 Rent revetue 25.000 Accounts payable 200.000 Sales Inventory 50.000 Bank Loan Payable 20.000 Ca 18.000 Retaned eamings (beginning of war, January 1.20X280.000 Prepad insurance (6-month insuriance poliey 15,000 Palt-in apital 38.000 Equipment 45.000 Unearmed rent revenoe (9-month contract 5.000 "Of the $20.000 bank loan payable, $15.000 will be repaid in 20X3. What are Sorensan Company's TOTAL CURRENT ASSETS? Het An item that appears in the income statenvent does NOT also appear in the halance sheet

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Accounts receivable 100000 Inventory ... View the full answer