Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 2 - A Further Look at Financial Statements - Problems - Set B - Page 86: P2-1B

Answer

This question requires preparation of classified balance sheet. Make sure to remember the pattern of disclosing the assets and liabilities i.e., current assets should be disclosed first followed by the non-current assets. Total Current Assets = 2,427 Total Assets = 10,714

Work Step by Step

Total Current Assets = 410.6 + 944.8 + 823.9 + 247.7 = 2,427 Total Assets = 2,427 + 2,815.6 + 5471.4 = 10,714
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