contestada

Culver Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $8,780, Land $48,700, Patents $16,100, Accounts Receivable $90,860, Prepaid Insurance $5,820, Inventory $34,500, Allowance for Doubtful Accounts $4,050, and Equity Investments (to be sold in the next quarter) $12,500. Prepare the current assets section of the balance sheet.

Respuesta :

Answer:

Balance sheet [as on ....]

Particular                                                  Amount    Amount

Assets

Current Assets

Cash                                                                           $8,780

Accounts Receivable                             $90,860

Less: Allowance for Doubtful Accounts $4,050     $86,810

Prepaid Insurance                                                     $5,820

Inventory                                                                    $34,500

Equity Investments                                                    $12,500

Total Current assets                                                  $148,410