Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Koonce Office Supplies Balance Sheet December 31,
Use the following data to determine the total dollar amount of assets to be classified as current assets. Koonce Office Supplies Balance Sheet December 31, 2022 Cash $ 195,000 $ 210,000 Accounts receivable 150,000 Accounts payable Salaries and wages payable Mortgage payable Total liabilities 30,000 Inventory 240.000 165,000 90,000 255,000 270,000 Prepaid insurance Stock investments Land $480,000 Buildings $315,000 $360,000 Less: Accumulated 750.000 Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity depreciation (60.000) 255,000 1.110.000 Goodwill Total assets 210.000 $1,590,000 $1.590.000 $600,000 $510,000 $855,000 $435.000
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