The Accounts and Balances Shown Below Were Gathered from Primer

question 42

Multiple Choice

The accounts and balances shown below were gathered from Primer Corporation's trial balance on December 31,2014.All adjusting entries have been made.

The amount that should be reported as current assets on Primer Corporation's balance sheet is

• A)$151,300.
• B)$164,900.
• C)$217,300.
• D)$267,300.

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Definitions:

High-quality Goods

Products that meet or exceed predetermined standards of excellence, including durability, usability, and performance.

Coal

A fossil fuel formed from the remains of plants that lived millions of years ago, used primarily for generating electricity and as a fuel source.

Remnants

Traces or remains of something that once existed.

Fire

A rapid oxidation process, which is a chemical reaction resulting in the release of heat and light.