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Question - The accounts and balances shown below were gathered from Paynter Corporation's trial balance on December 31, 2004. All adjusting entries have been made.
Wages Payable $25,600
Cash 17,700
Mortgage Payable 151,600
Dividends Payable 14,000
Prepaid Rent 13,600
Inventory 81,800
Sinking Fund Assets 52,400
Short-Term Investments 15,200
Premium on Bonds Payable 4,600
Stock Investment in Subsidiary 102,400
Taxes Payable 22,800
Accounts Payable 24,800
Accounts Receivable 36,600
Required - Find the amount that should be reported as current assets on Paynter Corporation's balance sheet?
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