The account balances shown below were gathered from Plum Company's trial balance on ...
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Accounting
| The account balances shown below were gathered from Plum Company's trial balance on | ||||||||||||
| December 31, 2019. All adjusting entries have ben made. | ||||||||||||
| Wages payable | $ 250,000 | |||||||||||
| Cash | 200,000 | |||||||||||
| Mortgage payable | 1,500,000 | |||||||||||
| Dividends payable | 150,000 | |||||||||||
| Prepaid rent | 100,000 | |||||||||||
| Inventory | 800,000 | |||||||||||
| Sinking fund | 500,000 | |||||||||||
| Short-term investments | 300,000 | |||||||||||
| Stock investment in subsidiary | 2,000,000 | |||||||||||
| Taxes payable | 220,000 | |||||||||||
| Accounts payable | 240,000 | |||||||||||
| Accounts receivable | 350,000 | |||||||||||
| Required: | ||||||||||||
| Compute the amount that should be reported as current assets on Plum Company's | ||||||||||||
| statement of financial position. | ||||||||||||
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