Calculate current assets for taron company

Asked by maham237 @ 03/01/2021 in Business viewed by 299 People

Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company: Account Title Dr. Cr. Cash $ 23,000 Accounts receivable 16,000 Prepaid insurance 6,600 Equipment 100,000 Accumulated depreciation—Equipment $ 50,000 Land 95,000 Accounts payable 17,000 Interest payable 2,400 Unearned revenue 5,000 Long-term notes payable 30,000 Retained earnings 136,200 Totals $ 240,600 $ 240,600

Answered by maham237 @ 03/01/2021

Answer:

$45,600

Explanation:

The total assets comprises of current assets, fixed assets and the intangible assets

The current assets includes cash, stock, account receivable, etc

Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.

And, the intangible assets include patents, copyrights, goodwill, etc.

The computation of the current asset is shown below:

= Cash + Accounts receivable + Prepaid insurance

= $23,000 + $16,000 + $6,600

= $45,600

Calculate current assets for taron company.

Asked by maham237 @ 03/01/2021 in Business viewed by 356 persons

Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company, Inc.: Account Title Debit Credit Cash 23,000 Accounts receivable 16,000 Prepaid insurance 6,600 …

On a classified balance sheet companies usually list current assets

Asked by admin @ 22/11/2021 in Business viewed by 298 persons

When a classified balance sheet is prepared, merchandise inventory is: (A) Not reported as a current asset because it is not sufficiently liquid. (B) Usually listed after prepaid expenses according …

Which is the least liquid of the firm's current assets

Asked by admin @ 29/10/2021 in Business viewed by 280 persons

Liquidity ratios are used to measure a firm's ability to meet its obligations as they come due. Two of the most commonly used liquidity ratios are the: (1) Current ratio …

The total current assets without deducting the current liabilities

Asked by admin @ 20/08/2021 in Math viewed by 266 persons

The total current asset withoutdeducting the current liabilities

How to calculate current through a resistor in parallel

Asked by admin @ 17/08/2021 in Physics viewed by 329 persons

How to find current through each resistor in a parallel circuit?

Which of the following is not a current asset

Asked by admin @ 10/08/2021 in Accountancy viewed by 464 persons

2. What from the following is NOT a current asset? OptionsPatent rightsInventoryo CashTrade receivables

Where are the information assets in a typical company today

Asked by admin @ 02/08/2021 in Business Studies viewed by 361 persons

Where are the information assets in a typical company today?

The current assets section of the balance sheet should include

Asked by admin @ 28/10/2021 in Business viewed by 287 persons

Prepare the current assets section of the balance sheet for Buffalo Industries, assuming that in addition to the receivables it has cash of $97,340, merchandise inventory of $167,950, and supplies …