Question

The Pioneer Company has provided the following account balances: Cash $39,800; Short-term investments $5,800; Accounts receivable $7,800; Supplies $57,000; Long-term notes receivable $3,800; Equipment $105,000; Factory Building $198,000; Intangible assets $7,800; Accounts payable $28,200; Accrued liabilities payable $3,100; Short-term notes payable $17,600; Long-term notes payable $101,000; Common stock $198,000; Retained earnings $77,100. What are Pioneer's total current assets

Answer 1

Pioneer's total current assets are $110,400.

Step-by-step explanation:

Pioneer's total current assets can be calculated using the following formula:

Current assets = Cash + Short-term investments + Accounts receivable + Supplies ............... (1)

Where;

Cash = $39,800

Short-term investments = $5,800

Accounts receivable = $7,800

Supplies = $57,000

Substituting the values into equation (1), we have:

Current assets = $39,800 + $5,800 + $7,800 + $57,000 = $110,400