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23 December, 06:05

For the budget period ending December 31 of the current year, Aaron Corporation estimates its ending balances for cash as $4,000, accounts receivable as $16,000, finished goods inventory as $12,000, and raw materials inventory as $8,000. Invoices relating to raw materials in the amount of $14,000 are expected to be unpaid as of December 31. What is the amount of total current assets that will be reported on the budgeted balance sheet?

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  1. 23 December, 06:32
    0
    The amount of total current assets that will be reported on the budgeted balance sheet is $40,000.

    Explanation:

    Total current assets

    = Cash + Accounts receivable + Finished goods inventory + Raw materials inventory

    = $4,000 + $16,000 + $12,000 + $8,000

    = $40,000

    Therefore, The amount of total current assets that will be reported on the budgeted balance sheet is $40,000.
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