Calculate Total Current Assets Given the Following Information

question 310

Multiple Choice

Calculate total current assets given the following information. Cash $10,000; supplies $3,000; average collection period 54.75 days; days' sales in inventory 91.25 days; sales $80,000; COGS $60,000.

• A) $42,000
• B) $40,000
• C) $38,000
• D) $36,000
• E) $34,000

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Definitions:

Inductive Current

A theoretical concept referring to current that is induced by a changing magnetic field, often associated with inductors in circuits.

RLC Parallel Circuit

An electrical circuit consisting of a resistor (R), inductor (L), and capacitor (C) connected in parallel.

Parallel Tank Circuit

A resonant circuit consisting of a capacitor and an inductor connected in parallel, used to select or filter specific frequencies.

Resonant Frequency

The frequency at which a system oscillates at its maximum amplitude.