Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Pina Colada Corp. Balance Sheet December 31,
Use the following data to determine the total dollar amount of assets to be classified as current assets. Pina Colada Corp. Balance Sheet December 31, 2022 Cash and cash equivalents $74000 Accounts payable $137500 Accounts receivable 86000 Salaries and wages payable 17200 Inventory 138500 Bonds payable 157500 $312200 Prepaid insurance 75000 Total liabilities Stock investments 194000 Land 196000 Buildings $207000 Common stock $235300 Less: Accumulated depreciation (67000) 140000 Retained earnings 482000 Trademarks 126000 $717300 Total stockholders' equity Total liabilities and stockholders' equity Total assets $1029500 $1029500 O $567500 O $312200 O $373500 O $235000
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