Ask Question
1 March, 01:04

Stine Corp.'s trial balance reflected the following account balances at December 31, 2014: Accounts receivable (net) ? $21,000 Trading securities? 8,000 Accumulated depreciation on equipment and furniture? 15,000 Cash? 18,000 Inventory? 32,000 Equipment? 25,000 Patent? 4,000 Prepaid expenses? 4,000 Land held for future business site? 18,000 In Stine's December 31, 2014 balance sheet, the current assets total is

+2
Answers (1)
  1. 1 March, 01:33
    0
    the current assets total is $ 83,000

    Explanation:

    Current assets are assets that can be easily be converted into cash within a period of 12 months in the business.

    In Stine Corp.'s balance sheet the following are listed as assets;

    Accounts receivable $ 21,000

    Trading securities $ 8,000

    Cash $ 18,000

    Inventory $ 32,000

    Prepaid expenses $ 4,000

    Total $ 83,000

    Therefore, the current assets total is $ 83,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Stine Corp.'s trial balance reflected the following account balances at December 31, 2014: Accounts receivable (net) ? $21,000 Trading ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers