Refer to Bailey Company. Calculate Current Assets. A. $ 90,000 B. $ 150,000 C. $ 195,000 D. $ 225,000 16. Bailey Company Bailey Company has provided the following information from its accounting records for the current year: Cash $ 50,000 Accounts Receivable $ 40,000 Inventory $ 60,000 Land $ 75,000 Accounts Payable $ 45,000 Notes Payable (due 2020) $150,000 Retained Earnings ? ? ? Refer to Bailey Company. Calculate Current Liabilities A. $ 45,000 B. $ 120,000 C. $ 195,000 D. $ 225,000 17. Which one of the following items is reported as a current asset on a classified balance sheet? A. Inventory B. Accounts Payable C. Land D. Common Stock 18. Jones Cash $ 50,000 Inventory $ 45,000 Land $ 75,000 Accumulated Depreciation $ 40,000 Plant & Equipment $150,000 Accounts Payable $ 60,000 Refer to Jones Company. Calculate Current Assets. A. $220,000 B. $155,000 C. $130,000 D. $ 95,000
Refer to Bailey Company. Calculate Current Assets. A. $ 90,000 B. $ 150,000 C. $ 195,000 D. $ 225,000 16. Bailey Company Bailey Company has provided the following information from its accounting records for the current year: Cash $ 50,000 Accounts Receivable $ 40,000 Inventory $ 60,000 Land $ 75,000 Accounts Payable $ 45,000 Notes Payable (due 2020) $150,000 Retained Earnings ? ? ? Refer to Bailey Company. Calculate Current Liabilities A. $ 45,000 B. $ 120,000 C. $ 195,000 D. $ 225,000 17. Which one of the following items is reported as a current asset on a classified balance sheet? A. Inventory B. Accounts Payable C. Land D. Common Stock 18. Jones Cash $ 50,000 Inventory $ 45,000 Land $ 75,000 Accumulated Depreciation $ 40,000 Plant & Equipment $150,000 Accounts Payable $ 60,000 Refer to Jones Company. Calculate Current Assets. A. $220,000 B. $155,000 C. $130,000 D. $ 95,000