The working capital of BT21 Co. on December 31, 2021 are presented below: · Cash on hand – 200,000 · Cash in bank – 108,000 · Notes receivable – 250,000 · Trade receivable – 600,000 · Inventory – 650,000 · Prepaid expenses – 45,000 · Trade payables – 325,000 · Notes payable (due annually at 500,000 payable every March 31) – 1,000,000 · Accrued expenses – 40,000 How much total current liabilities should BT21 Co. present in its statement of financial position on December 31, 2021
The working capital of BT21 Co. on December 31, 2021 are presented below: · Cash on hand – 200,000 · Cash in bank – 108,000 · Notes receivable – 250,000 · Trade receivable – 600,000 · Inventory – 650,000 · Prepaid expenses – 45,000 · Trade payables – 325,000 · Notes payable (due annually at 500,000 payable every March 31) – 1,000,000 · Accrued expenses – 40,000 How much total current liabilities should BT21 Co. present in its statement of financial position on December 31, 2021
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter7: Financial Activities
Section: Chapter Questions
Problem 5QE
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The
· Cash on hand – 200,000
· Cash in bank – 108,000
· Notes receivable – 250,000
· Trade receivable – 600,000
· Inventory – 650,000
· Prepaid expenses – 45,000
· Trade payables – 325,000
· Notes payable (due annually at 500,000 payable every March 31) – 1,000,000
· Accrued expenses – 40,000
How much total current liabilities should BT21 Co. present in its statement of financial position on December 31, 2021?
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