Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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MAKA
Transcribed Image Text:The following financial information is from MAKA Construction Company.
Accounts payable
Buildings
Cash
Accounts receivable
Sales tax payable
Retained earnings
Supplies
$14,500
85,000
11,600
10,000
2,900
46,400
41,800
Notes payable (due in 18 months) 26,000
Interest payable
Common stock
1,000
57,600
What is the amount of current assets, assuming the accounts above reflect
normal activity?
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