The Pioneer Company Has Provided the Following Account Balances

question 102

Multiple Choice

The Pioneer Company has provided the following account balances:
Cash $38,000;
Short-term investments $4,000;
Accounts receivable $6,000;
Inventory $48,000;
Long-term notes receivable $2,000;
Equipment $96,000;
Factory Building $180,000;
Intangible assets $6,000;
Accounts payable $30,000;
Accrued liabilities payable $4,000;
Short-term notes payable $14,000;
Long-term notes payable $92,000;
Contributed capital $180,000;
Retained earnings $60,000.
What are Pioneer's total current assets?

• A)$48,000
• B)$96,000
• C)$50,000
• D)$42,000

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Definitions:

TRICARE

TRICARE is a health care program of the United States Department of Defense Military Health System providing health benefits to military personnel, retirees, and their dependents.

Health Insurance Plan

An insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over a large number of persons.

TRICARE for Life

A healthcare program for U.S. military retirees and their dependents, providing Medicare-wraparound coverage.

Medicare

Medicare is a federal health insurance program in the United States for people aged 65 and older, as well as for some younger people with disabilities.