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What are morgan company total current assets

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Reference no: EM132625962

The following account balances were listed on the trial balance of Morgan Company:

Account                                         Balance

Cash                                        $38,000

Short-term Investments               $4,000

Accounts Receivable                   $48,000

Supplies                                    $6,000

Long-term Notes Receivable            $2,000

Equipment                                $96,000

Building                                     $180,000

Intangible Assets                           $6,000

Accounts Payable                           $30,000

Short-term Loan Payable                    $14,000

Utilities Payable                                  $4,000

Long-term Notes Payable                    $92,000

Common Stock                                   $180,000

Retained Earnings                                 $60,000

Problem 1: What are Morgan Company's Total Current Assets and Total Current Liabilities?

Reference no: EM132625962

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