The Following Financial Information Is from Shovels Construction Company: What

question 60

Multiple Choice

The following financial information is from Shovels Construction Company: What is the amount of current assets,assuming the accounts above reflect normal activity?
$$\begin{array} { | l | r | } \hline \text { Accounts Payable } & \$ 15,000 \\\hline \text { Buildings } & 80,000 \\\hline \text { Cash } & 10,500 \\\hline \text { Accounts Receivable } & 9,500 \\\hline \text { Sales Tax Payable } & 4,500 \\\hline \text { Retained Earnings } & 47,500 \\\hline \text { Supplies } & 40,000 \\\hline \text { Notes Payable (due in } 18 \text { months) } & 35,000 \\\hline \text { Interest Payable } & 3,000 \\\hline \text { Common Stock } & 35,000 \\\hline\end{array}$$

• A)$20,000.
• B)$60,000.
• C)$140,000.

---

Definitions:

XML

Extensible Markup Language, a flexible way to create common information formats and share both the format and the data on the World Wide Web, intranets, and elsewhere.

Development

The process of creating, testing, and maintaining software or applications to meet user needs or solve specific problems.

Google Scholar

A freely accessible web search engine that indexes the full text or metadata of scholarly literature across an array of publishing formats and disciplines.

3-D Animation Software

Programs designed to create moving images in a digital environment that simulate three-dimensional spaces.