The McCarthy Company has the following adjusted trial balance as of December 31, 2017: ...

60.1K

Verified Solution

Question

Accounting

The McCarthy Company has the following adjusted trial balance as of December 31, 2017:

Account

Debit

Credit

Cash

$800

Accounts Receivable

1000

Inventory

2200

Supplies

1800

Prepaid Rent

600

Land

6300

Building

39,500

Accumulated Depreciation

$8,500

Accounts Payable

7,500

Unearned Revenue

4,100

Notes Payable, due 2020

2,300

Common Stock

6,600

Retained Earnings

3,100

Service Revenue

33,000

Rent Expense

2,300

Supplies Expense

1,200

Salaries Expense

6,400

Depreciation Expense

1,400

Utilities Expense

1,600

Totals

$65,100

$65,100

What are total current assets at December 31, 2017?

A.

$45,900

B.

$4000

C.

$4600

D.

$6400

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students