Reference no: EM133011459
The following information is provided for a company:
Accounts payable $15,000 Buildings $80,000
Cash 10,500 Accounts receivable 9,500
Salaries payable 4,500 Retained earnings 47,500
Supplies 40,000 Notes payable (due in 18 months) 35,000
Interest payable 3,000 Common stock 35,000
Problem 1: What is the amount of current assets, assuming the accounts above reflect normal activity?
a. $20,000
b. $60,000
c. $140,000
d. $175,000
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