Bevco Company Has Provided the Following Information from Its Accounting

question 164

Multiple Choice

Bevco Company has provided the following information from its accounting records for the current year:
$\begin{array}{lrlr}\text { Cash } & \$ 55,000 & \text { Accounts receivable } & \$ 45,000 \\\text { Inventory } & 65,000 & \text { Land } & 75,000 \\\text { Accounts payable } & 50,000 & \text { Notes payable (due 2021) } & 150,000 \\\text { Retained earnings } & ? & \text { Capital stock } & 20,000\end{array}$
-Read the information for Bevco Company.What are Bevco' current liabilities?

• A)$50,000
• B)$125,000
• C)$200,000
• D)$230,000

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Definitions:

Pilgrims

Early settlers of the Plymouth Colony in present-day Massachusetts, known for their 1620 voyage aboard the Mayflower seeking religious freedom.

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A geographic cape extending into the Atlantic Ocean from the southeastern corner of mainland Massachusetts, in the northeastern United States.

Vagrancy

A condition of homelessness and joblessness, often criminalized, where individuals wander from place to place without a permanent home or lawful employment.