Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Splish Brothers Inc. Balance Sheet December 31,
Use the following data to determine the total dollar amount of assets to be classified as current assets. Splish Brothers Inc. Balance Sheet December 31, 2022 Cash and cash equivalents $71500 Accounts payable $138000 Accounts receivable 90000 Salaries and wages payable 12000 Inventory 145000 Bonds payable 160000 Prepaid insurance 82500 Total liabilities $310000 Stock investments 199000 Land 195000 Buildings $217000 Common stock $251000 Less: Accumulated depreciation (66000) 151000 Retained earnings 476500 Trademarks 103500 Total stockholders' equity $727500 Total assets $1037500 Total liabilities and stockholders' equity $1037500
a)$588000
b)$389000
c)$310000
d)$244000
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