The Balances of Select Accounts of Sandra,Inc The Insurance Has Been Prepaid Until June 30,2017

question 76

Multiple Choice

The balances of select accounts of Sandra,Inc.as of December 31,2016 are given below: $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & \text { Credit } \\\hline \text { Building } & \$ 140,000 & \\\hline \text { Cash } & 8,000 & \\\hline \text { Office Supplies } & 1,100 & \\\hline \text { Furniture } & 5,000 & \\\hline \text { Prepaid Insurance } & 450 & \\\hline \text { Accumulated Depreciation-Furniture } & & \$ 3,000 \\\hline \text { Land } & 32,000 & \\\hline \text { Accumulated Depreciation-Building } & &4,700 \\\hline \text { Accounts Receivable } & 2,300 & \\\hline\end{array}$$ The insurance has been prepaid until June 30,2017.Determine the amount of total current assets reported on the balance sheet.

• A)$15,300
• B)$9,100
• C)$11,850
• D)$9,550

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