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Question - An adjusted trial balance of Afif & Associates (a legal firm) on 31 October 2021 is as follows:
Accounts
Debit (RM)
Credit (RM)
Cash
19,500
Notes Receivable, Short-term
61,000
Rent Receivable
1,500
Office Supplies
13,750
Prepaid Insurance
2,750
Office Equipment
15,000
Accumulated Depreciation - Office Equipment
12,500
Accounts Payable
15,750
Wages Payable
2,250
Unearned Revenue
Notes Payable, Long-term
25,000
Capital
80,000
Drawings
27,500
Service Revenue
40,250
Rent Revenue
5,500
Wages Expense
38,250
Insurance Expense
6,250
Office Supplies Expense
3,750
Depreciation Expense
2,500
Miscellaneous Expense
4,500
196,250
Required - What is the total current assets of Afif & Associates as at 31 October 2021?
A. RM98,500
B. RM2,500
C. RM101,000
D. RM33,000
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