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Below Is a List of Various Balance Sheet Accounts and Their

Question 2

Multiple Choice

Below is a list of various balance sheet accounts and their balances.
 Debit  Credit  Building $120,000 Cash 10,000 Supplies 300 Furniture 3000 Prepaid insurance 650 Accumulated depreciation - furniture $4000 Land 33,000 Accumulated depreciation - building 4300 Accounts receivable 2200\begin{array} { | l | l | l | } \hline & { \text { Debit } } & \text { Credit } \\\hline \text { Building } & \$ 120,000 & \\\hline \text { Cash } & 10,000 & \\\hline \text { Supplies } & 300 & \\\hline \text { Furniture } & 3000 & \\\hline \text { Prepaid insurance } & 650 & \\\hline \text { Accumulated depreciation - furniture } & & \$ 4000 \\\hline \text { Land } & 33,000 & \\\hline \text { Accumulated depreciation - building } & & 4300 \\\hline \text { Accounts receivable } & 2200 & \\\hline\end{array}
What are the total current assets that would be shown on the balance sheet?


A) $11,450
B) $10,800
C) $13,650
D) $15,200

Correct Answer:

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