The Barden Company provides the following trial balance as of December 31, 2018. Debit Credit Cash and
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Question:
The Barden Company provides the following trial balance as of December 31, 2018.
Debit | Credit | |||||||
Cash and cash equivalents | $ | 345,000 | ||||||
Accounts receivable | 115,000 | |||||||
Inventory | 120,000 | |||||||
Prepaid insurance | 7,500 | |||||||
Prepaid rent | 40,000 | |||||||
Equipment | 265,000 | |||||||
Accumulated depreciation – Equipment | 65,000 | |||||||
Accounts payable | 45,000 | |||||||
Accrued liabilities | 10,000 | |||||||
Notes payable, due in 2020 | 135,000 | |||||||
Common stock | 300,000 | |||||||
Additional paid-in capital | 87,500 | |||||||
Retained earnings | 250,000 | |||||||
Total | $ | 892,500 | $ | 892,500 | ||||
What would Barden report as current assets on its balance sheet?
Related Book For
Financial and Managerial Accounting
ISBN: 978-1337119207
14th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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