What total amount should be classified as monetary assets

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Pandecoco Company reported the following assets in the statement of financial position:

Cash in bank 2,000,000

Accounts receivable 4,000,000

Inventory 1,500,000

Financial asset at fair value 500,000

Patent 1,000,000

Advances to employees 200,000

Advances to suppliers 400,000

Prepaid expenses 100,000

Problem 1: In preparing financial statements in a hyperinflationary economy, what total amount should be classified as monetary assets?

a. 6,200,000

b. 6,600,000

c. 6,700,000

d. 7,700,000

Reference no: EM132769559

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