Stine Corp.'s trial balance reflected the following account balances at December 31, 2014: Accounts receivable (net) ? $21,000 Trading securities? 8,000 Accumulated depreciation on equipment and furniture? 15,000 Cash? 18,000 Inventory? 32,000 Equipment? 25,000 Patent? 4,000 Prepaid expenses? 4,000 Land held for future business site? 18,000 In Stine's December 31, 2014 balance sheet, the current assets total is

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Business

Whitie

7 May, 04:39

Stine Corp.'s trial balance reflected the following account balances at December 31, 2014: Accounts receivable (net) ? $21,000 Trading securities? 8,000 Accumulated depreciation on equipment and furniture? 15,000 Cash? 18,000 Inventory? 32,000 Equipment? 25,000 Patent? 4,000 Prepaid expenses? 4,000 Land held for future business site? 18,000 In Stine's December 31, 2014 balance sheet, the current assets total is

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Leland Fowler · Answer 1

the current assets total is $ 83,000

Explanation:

Current assets are assets that can be easily be converted into cash within a period of 12 months in the business.

In Stine Corp.'s balance sheet the following are listed as assets;

Accounts receivable $ 21,000

Trading securities $ 8,000

Cash $ 18,000

Inventory $ 32,000

Prepaid expenses $ 4,000

Total $ 83,000

Therefore, the current assets total is $ 83,000