204k views
2 votes
What is the total amount of current assets to be reported on XYZ Company's 12/31/X1 classified balance sheet

User Navneeth
by
2.9k points

1 Answer

13 votes

Answer:

$112,800

Step-by-step explanation:

The computation of the total amount of current asset reported is as follows:

= Cash + account receivable + supplies + prepaid rent

= $53,000 + $15,000 + $8,800 + $36,000

= $112,800

Hence, the amount reported is $112,800

We simply added the above four items so that the current asset value could come

What is the total amount of current assets to be reported on XYZ Company's 12/31/X-example-1
User Jsl
by
3.4k points