The Balances of Select Accounts of Sandra Company as of December

question 182

Multiple Choice

The balances of select accounts of Sandra Company as of December 31,2018 are given below: $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & \text { Credit } \\\hline \text { Building } & \$ 140,000 & \\\hline \text { Cash } & 9,000 & \\\hline \text { Office Supplies } & 1,200 & \\\hline \text { Furniture } & 6,000 & \\\hline \text { Prepaid Insurance } & 550 & \\\hline \text { Accumulated Depreciation-Furniture } & & \$ 4,000 \\\hline \text { Land } & 31,000 & \\\hline \text { Accumulated Depreciation-Building } & & 4,000 \\\hline \text { Accounts Receivable } & 2,200 & \\\hline\end{array}$$ 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) $17,200
• B) $10,200
• C) $12,950
• D) $10,750

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Definitions:

Eurodollar Market

A market for trading U.S. dollars in foreign countries.