The Balances of Select Accounts of Sandra Company as at December

question 88

Multiple Choice

The balances of select accounts of Sandra Company as at December 31, 2015 are given below: $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & { \text { Credit } } \\\hline \text { Building } & \$ 120,000 & \\\hline \text { Cash } & 5,000 & \\\hline \text { Office Supplies } & 700 & \\\hline \text { Furniture } & 3,000 & \\\hline \text { Prepaid Insurance } & 450 & \\\hline \text { Accumulated Depreciation-Furniture } & & \$ 1,000 \\\hline \text { Land } & 35,000 & \\\hline \text { Accumulated Depreciation-Building } & & 4,800 \\\hline \text { Accounts Receivable } & 2,500 & \\\hline\end{array}$$
-Refer to the table above.The insurance has been prepaid for the next half year. What are the total current assets that would be shown on the balance sheet?

• A) $10,500
• B) $5,700
• C) $8,650
• D) $6,150

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