16. Ludwig Company showed the following current assets as year-end:Cash3,200,000Accounts Receivable2,500,000Inventory2,000.000Total Current AssetsZ000.000Cash on hand, including customer postdated checkP100,000 and 10U P50,000500,000Cash in bank per bank statement (outstandingCheck at year-end P200,000)2.000.0003,200,000Total cashWhat total amount should be reported as current assets?a. 7,700,000b. 7,450,000c. 7,400,000d. 7,500,000

Current asset are include those cash equivalent, stock, inventory and other liquid asset

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What total amount should be reported as current assets? a. 7,700,000 b. 7,450,000 c. 7,400,000 d. 7,500,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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Question

16. Ludwig Company showed the following current assets as year-end:
Cash
3,200,000
Accounts Receivable
2,500,000
Inventory
2,000.000
Total Current Assets
Z000.000
Cash on hand, including customer postdated check
P100,000 and 10U P50,000
500,000
Cash in bank per bank statement (outstanding
Check at year-end P200,000)
2.000.000
3,200,000
Total cash
What total amount should be reported as current assets?
a. 7,700,000
b. 7,450,000
c. 7,400,000
d. 7,500,000

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