Janson Corporation Co.\'s trial balance included the following account balances

Question

Janson Corporation Co.'s trial balance included the following account balances at December 31, 2013: Accounts receivable $13,700 Inventories 42,000 Patent 13,300 Investments 30,600 Prepaid insurance 7,400 Note receivable, due 2016 51,400 Investments consist of treasury bills that were purchased in November and mature in January. Prepaid insurance is for the next two years. What amount should be included in the current assets section of Janson's December 31, 2013, balance sheet? $ 141,400. $ 90,000. $ 59,400. $ 93,700.

Explanation / Answer

current assets: 13700 AR 42000 inventories 3700 prepaid insurance 30,600 investments = 90,000 answer: 90,000

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