Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Blue Spruce Corp. Balance Sheet December 31,
Use the following data to determine the total dollar amount of assets to be classified as current assets. Blue Spruce Corp. Balance Sheet December 31, 2022 $185000 Accounts payable 142000 Salaries and wages payable 154000 Mortgage payable 85800 Total liabilities 269000 270000 $305000 Common stock Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation $207000 31500 227000 $465500 $368300 (62000) 243000 Retained earnings 727000 Goodwill 212000 $1095300 Total stockholders' equity Total liabilities and stockholders'equity Total assets $1560800 $1560800 O $481000 $566800 $412800
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