Question: Use the information in the post-closing trial balance presented below to calculate total current assets that will be reported in a classified statement of financial

Use the information in the post-closing trial balance presented below to calculate total current assets that will be reported in a classified statement of financial position for Anas Company (The operating cycle for this company is less than one year)

Accounts are not in the normal order.

Account

Dr

Cr

Accounts Payable

12,400

Supplies

850

Inventory

7,400

Vehicles

20,000

Accumulated Depreciation -Vehicles

8,000

Owner Capital

95,350

Mortgage payable (due in 5 years)

70,000

Cash

6,300

Short term investment

2,500

Goodwill

24,000

Prepaid Expenses

2,600

Land

60,000

Land held for future investment

75,000

Notes Receivable (due in 3 months)

14,000

Buildings

40,000

Accumulated Depreciation -Buildings

14,000

Unearned Service Revenue

2,300

long term financial investment

20,000

salaries and wages payable

3,600

Trademarks

18,000

Long term Bonds payable

85,000

Total

$ 290,650

$ 290,650

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