The Balances of Select Accounts of Sandra, Inc The Insurance Has Been Prepaid Until June 30, 2019

question 94

Multiple Choice

The balances of select accounts of Sandra, Inc. as of December 31, 2018 are given below: $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & \text { Credit } \\\hline \text { Building } & \$ 130,000 & \\\hline \text { Cash } & 5,000 & \\\hline \text { Office Supplies } & 800 & \\\hline \text { Furniture } & 5,000 & \\\hline \text { Prepaid Insurance } & 450 & \\\hline \text { Accumulated Depreciation-Furniture } & & \$ 1,000 \\\hline \text { Land } & 32,000 & \\\hline \text { Accumulated Depreciation-Building } & & 4,600 \\\hline \text { Accounts Receivable } & 2,300 & \\\hline\end{array}$$ The insurance has been prepaid until June 30, 2019. Determine the amount of total current assets reported on the balance sheet at December 31, 2018.

• A) $12,300
• B) $5,800
• C) $8,550
• D) $6,250

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Definitions:

Surgical Procedure

A medical operation conducted to diagnose, treat, or prevent illness, injury, or disease, involving manual and instrumental techniques.

Sensory

Relating to or involving the organs or the senses of sight, hearing, smell, taste, and touch.

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A systematic method of teaching and learning, which aims to impart knowledge, develop skills, and foster attitudes and values.

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The process of confirming the accuracy, truth, or validity of something through examination or evidence.