Question: Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company: Account Title Dr. Cr. Cash $ 41,000 Accounts

Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company:

Account Title Dr. Cr.
Cash $ 41,000
Accounts receivable 22,000
Prepaid insurance 9,000
Equipment 160,000
Accumulated depreciationEquipment $ 80,000
Land 101,000
Accounts payable 23,000
Interest payable 3,900
Unearned revenue 6,800
Long-term notes payable 48,000
Retained earnings 171,300
Totals $ 333,000 $ 333,000

Multiple Choice

  • $23,000.

  • $333,000.

  • $41,200.

  • $72,000.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!