Stine Corp.'s trial balance reflected the following account balances at December 31, 2015: Accounts receivable (net) $24,000 marketable securities 6,000 Accumulated depreciation—equipment 15,000 Cash 21,000 Inventory 30,000 Equipment 25,000 Patent 4,000 Prepaid expenses 2,000 Land held for future business site 18,000 In Stine's December 31, 2015 statement of financial position, the current assets total is Select one: a. $83,000. b. $101,000. c. $87,000. d. 92,000.
Stine Corp.'s trial balance reflected the following account balances at December 31, 2015: Accounts receivable (net) $24,000 marketable securities 6,000 Accumulated depreciation—equipment 15,000 Cash 21,000 Inventory 30,000 Equipment 25,000 Patent 4,000 Prepaid expenses 2,000 Land held for future business site 18,000 In Stine's December 31, 2015 statement of financial position, the current assets total is Select one: a. $83,000. b. $101,000. c. $87,000. d. 92,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Stine Corp.'s trial balance reflected the following account balances at December 31, 2015:
Accounts receivable (net) $24,000
marketable securities 6,000
Accumulated depreciation —equipment 15,000
Cash 21,000
Inventory 30,000
Equipment 25,000
Patent 4,000
Prepaid expenses 2,000
Land held for future business site 18,000
In Stine's December 31, 2015 statement of financial position , the current assets total is
Select one:
a. $83,000.
b. $101,000.
c. $87,000.
d. 92,000.
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