Below Is a List of Various Balance Sheet Accounts and Their

question 56

Multiple Choice

Below is a list of various balance sheet accounts and their balances. $\begin{array}{|l|l|l|}\hline \text { Accounts } & {\text { Debit }}&\text { Credit } \\\hline \text { Building } & \$ 120,000 \\\hline \text { Cash } & 10,000 \\\hline \text { Supplies } & 300 \\\hline \text { Furniture } & 3000 \\\hline \text { Prepaid insurance } & 650 \\\hline \text { Accumulated depreciation - furniture } & & \$ 4000 \\\hline \text { Land } & 33,000 & \\\hline \text { Accumulated depreciation - building } & & 4300 \\\hline \text { Accounts receivable } & 2200 &\\\hline\end{array}$ What are the total current assets that would be shown on the balance sheet?

• A)$11,450
• B)$10,800
• C)$13,650
• D)$15,200

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Public Policy

Guidelines and principles that reflect the societal norms and beliefs influencing laws and government actions.

UCC

The Uniform Commercial Code encompasses a detailed framework of laws managing commercial interactions across the United States.

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