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A. What is total current assets on this company's balance sheet? B. What is the correct order for the current assets section of this company's balance sheet?

A. What is total current assets on this company's balance sheet? B. What is the correct order for the current assets section of this company's balance sheet?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 16GI: Indicate how a company computes the amount of interest and income taxes that it paid during the...
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A. What is total current assets on this company's balance sheet?

B. What is the correct order for the current assets section of this company's balance sheet?

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Huimin Ltd. had the following account balances at December 31, 2021: Account Name Dividends Prepaid expenses Interest expense Website expense Accounts receivable Deferred revenue Income tax expense Collections from customers Purchase of intangibles Payments to suppliers Travel expense Retained earnings (beginning of year) Payment of dividends Insurance expense Office supplies expense Cash (beginning of year) Service revenue Cash received from debt Prepaid insurance Amount $2,500 1,500 750 600 17,300 850 3,750 37,945 1,020 35,600 1,800 3,700 2,500 2,400 350 31,550 33,720 10,000 1,200
Transcribed Image Text:Huimin Ltd. had the following account balances at December 31, 2021: Account Name Dividends Prepaid expenses Interest expense Website expense Accounts receivable Deferred revenue Income tax expense Collections from customers Purchase of intangibles Payments to suppliers Travel expense Retained earnings (beginning of year) Payment of dividends Insurance expense Office supplies expense Cash (beginning of year) Service revenue Cash received from debt Prepaid insurance Amount $2,500 1,500 750 600 17,300 850 3,750 37,945 1,020 35,600 1,800 3,700 2,500 2,400 350 31,550 33,720 10,000 1,200
Office supplies expense Cash (beginning of year) Service revenue Cash received from debt Prepaid insurance Office supplies Business licence Cash (end of year) Income tax payable Owners' capital Website design Telephone expense Contributions by owners Accounts payable Bank loan payable, due in 2025 350 31,550 33,720 10,000 1,200 975 60 47,875 500 21,000 960 375 7,500 12,625 10.000
Transcribed Image Text:Office supplies expense Cash (beginning of year) Service revenue Cash received from debt Prepaid insurance Office supplies Business licence Cash (end of year) Income tax payable Owners' capital Website design Telephone expense Contributions by owners Accounts payable Bank loan payable, due in 2025 350 31,550 33,720 10,000 1,200 975 60 47,875 500 21,000 960 375 7,500 12,625 10.000
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