Question

Huron has provided the following year-end balances: Cash, $29,000 Patents, $7,400 Accounts receivable, $9,400 Property, plant, and equipment, $98,400 Prepaid insurance, $4,100 Accumulated depreciation, $15,000 Inventory, $39,000 Retained earnings, 15,500 Trademarks, $13,100 Accounts payable, $8,000 Goodwill, $16,000 How much are Huron's current assets

Answer 1

$81,500

Step-by-step explanation:

Given the information above, Hurron's current asset will be computed using the formula below.

= Cash + Accounts receivables + Prepaid insurance + Inventory

= $29,000 + $9,400 + $4,100 + $39,000

= $81,500

Therefore, Hurron's current assets is $81,500.