Current assets q, Long-term assets q, $350,000 Current liabilities...
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Accounting
Current assets
Longterm assets
$
Current liabilities
Longterm liabilities
Additional information:
a Cash of $ has been placed in a fund for the retirement of longterm debt.
The cash and longterm debt have been offset and are not reflected in the financial statements.
b Longterm assets include $ in treasury stock.
c Cash of $ has been set aside to pay taxes due. The cash and taxes
payable have been offset and do not appear in the financial statements.
d Advances on salespersons' commissions in the amount of $ have been made. Also, sales commissions payable total $ The net liability of $ is included in Current Liabilities.
After making any necessary changes, what are the totals for Streamer's current assets and current liabilities
Answer & Explanation
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