What total current assets reported in the december is

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Reference no: EM132671936

Comet Company as of December 31, 2017 provided the following balances

  • Cash, net of a 7,000 overdraft 80,000
  • Receivable, net of customer credit balances totaling 6,000 30,000
  • Inventory (20,000 of which are held on consignment) 60,000
  • Prepayments 10,000
  • PPE, net accumulated depreciation of 15,000 90,000
  • Accounts payable, net balances in supplier's accounts 3,000 45,000
  • Notes Payable- bank, due on July 2018 25,000
  • Income tax payable 15,000

Problem 1: Total current assets reported in the December 31, 2017 balance sheet is

Problem 2: Total current liabilities reported in the December 31, 2017 balance sheet is

Reference no: EM132671936

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