Constable Co What Is the Amount of Current Assets on the Classified

question 64

Multiple Choice

Constable Co.reported the following information at December 31,Year 1: $\begin{array}{lr}\text { Accounts Payable } & \$, 750 \\\text { Accounts Receivable } & 14,025 \\\text { Cash } & 35,235 \\\text { Common Stock } & 135,000 \\\text { Equipment } & 74,250 \\\text { Inventory } & 46,800 \\\text { Notes Payable due December 31, Year 3 } & 3,750 \\\text { Retained Earnings, December 31, Year 1 } & 21,135 \\\text { Wages Payable } & 3,675\end{array}$ What is the amount of current assets on the classified balance sheet?

• A)$170,310
• B)$96,060
• C)$49,260
• D)$123,255

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Definitions:

Autocratic Style

A leadership style characterized by individual control over all decisions and little input from group members.

Collaboration

The action of working with someone to produce or create something, often leveraging collective expertise to achieve common goals.

Laissez-faire Leader

A leadership style characterized by a hands-off approach, where leaders provide minimal direction and allow team members to make decisions.

Authority

The authority or capability to make decisions, issue commands, and ensure compliance.