Final answer:
Current assets reported on a balance sheet include items that are or will be turned into cash within a year.
Among the options provided, cash, accounts receivable, and supplies (option 2) are typical current assets, whereas the other options include non-current assets or liabilities.
Step-by-step explanation:
The current assets section of a balance sheet typically includes items that are either cash or can be converted into cash within one year.
Among the choices provided, option 2) Cash, accounts receivable, and supplies will be reported in the current assets subsection.
Cash is immediately available as an asset; accounts receivable represents money owed to the company that will likely be collected within the year, and supplies are consumable items used in operations that are also considered current assets.
Options 1, 3, and 4 include items that are either not current assets (like land and office equipment, which are long-term assets) or liabilities (such as accounts payable and unearned revenue).
Current assets are assets that are expected to be converted into cash or used up within one year. From the given options, the items that would typically be reported in the current assets section of a balance sheet are: Cash, accounts receivable, and supplies.
Cash represents the amount of money a company holds, accounts receivable represents the money owed to the company by its customers, and supplies refer to the inventory or stock of materials used in the business.