5 Constable Company reported the following information at December 31, Year 1: Accounts Payable $ 4,500 Accounts Receivable 9,350 Cash 23,490 Common Stock 90,000 Equipment 49,500 Inventory 31,200 Notes Payable due December 31, Year 3 2,500 Retained Earnings, December 31, Year 1 14,090 Wages Payable 2,450 What is the amount of current assets on the classified balance sheet? Multiple Choice $37,580 $113,540 $64,040 $23,490
5 Constable Company reported the following information at December 31, Year 1: Accounts Payable $ 4,500 Accounts Receivable 9,350 Cash 23,490 Common Stock 90,000 Equipment 49,500 Inventory 31,200 Notes Payable due December 31, Year 3 2,500 Retained Earnings, December 31, Year 1 14,090 Wages Payable 2,450 What is the amount of current assets on the classified balance sheet? Multiple Choice $37,580 $113,540 $64,040 $23,490
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
5
Constable Company reported the following information at December 31, Year 1:
| Accounts Payable | $ 4,500 |
|---|---|
| 9,350 | |
| Cash | 23,490 |
| Common Stock | 90,000 |
| Equipment | 49,500 |
| Inventory | 31,200 |
| Notes Payable due December 31, Year 3 | 2,500 |
| 14,090 | |
| Wages Payable | 2,450 |
What is the amount of current assets on the classified
Multiple Choice
-
$37,580
-
$113,540
-
$64,040
-
$23,490
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