Short-Term Investments Assignment | Top Universities

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Use this information to answer the following question. Balance Sheet December 31, 2010 Assets Cash Short-term investments Notes receivable (due in ten months) $ 60,000 40,000 30,000 20.000 Accounts receivable Merchandise inventory 80,000 80,000 Special fund for purchasing a building Land Building Less accumulated depreciation Trademark Total assets 90,000 $100,000 20.000 80,000 70.000 S540.000 Liabilities $ 50,000 Notes payable (due in six months) Accounts payable Salaries payable Mortgage payable (due in seven years) Total liabilities 20.000 10,000 90.000 $170,000 Orner's Equity 370,000 $540,000 Cheryl Stein, Capital Total liabilities and ewner's equity The total dollar amount of assets to be classified as current assets is $310,000. OA $380,000. OB. $230,000. Oc OD. $220,000. Quest A Moving to another question will save this response. Get Accounting Homework Help Today.