janson corporation companys trial balance included the following account balances on december 31, 2024…

janson corporation companys trial balance included the following account balances on december 31, 2024: accounts receivable $12,100 inventory 41,000 patent 13,200 investments 30,500 prepaid insurance 7,800 notes receivable, due 2027 50,300 investments consist of treasury bills that were purchased in november, 2024, and mature in january, 2025. prepaid insurance what amount should be included in the current assets section of jansons december 31, 2024, balance sheet? multiple choice $57,000 $87,500 $91,400 $137,800

janson corporation companys trial balance included the following account balances on december 31, 2024: accounts receivable $12,100 inventory 41,000 patent 13,200 investments 30,500 prepaid insurance 7,800 notes receivable, due 2027 50,300 investments consist of treasury bills that were purchased in november, 2024, and mature in january, 2025. prepaid insurance what amount should be included in the current assets section of jansons december 31, 2024, balance sheet? multiple choice $57,000 $87,500 $91,400 $137,800

Answer

Explanation:

Step1: Identify current - assets

Current assets are assets expected to be converted to cash, sold, or consumed within one year or the operating cycle, whichever is longer. Accounts receivable ($12,100), inventory ($41,000), investments (treasury bills maturing in January 2025, $30,500), and prepaid insurance ($7,800) are current - assets. The patent is an intangible asset and notes receivable due in 2027 is a non - current asset.

Step2: Calculate total current assets

Add up the identified current - assets: $12100 + 41000+30500 + 7800$. $12100+41000 = 53100$, $53100+30500 = 83600$, $83600 + 7800=91400$.

Answer:

$91,400$