Use the information Company in the adjusted trial balance pr

Use the information Company: in the adjusted trial balance presented below to calculate current assets for Taro Account Title Dr Cr Cash s 32,00o Accounts receivable 19,000 7,800 130,000 Prepaid insurance Equipment Accumulated depreciation-Equipment $ 65.000 Land 98,000 20,000 Accounts payable Interest payable Unearned revenue 3150 5,900 39,000 153,750 Long-term notes payable Z. Taron, Capital Totals $286,80o $286,800 O $98,000. O $58,800. O $286,800. O $20000 O$41200

Solution

Solution: Answer is b. $58,800

Working:

Current assets = cash + Accounts receivable + prepaid insurance

= 32,000 +19,000+7,800

= $58,800