long - term notes payable $150,000\naccounts receivable $33,000\naccounts payable $37,000\nbuilding…

long - term notes payable $150,000\naccounts receivable $33,000\naccounts payable $37,000\nbuilding $55,000\ncash and cash equivalents $80,000\nsalaries expense $20,500\ncommon stock $41,000\ninterest payable $1,500\nland $40,000\nshort - term investments $6,000\nincome taxes payable $9,000\nequipment $59,500\nsupplies $7,000\nservice revenue $99,000\nsupplies expense $18,000\nutilities expense $8,500\nincome tax expense $10,000\nwhat is the total amount of current assets at the end of the year?\na. $126,000\nb. $135,000\nc. $80,000\nd. $113,000

long - term notes payable $150,000\naccounts receivable $33,000\naccounts payable $37,000\nbuilding $55,000\ncash and cash equivalents $80,000\nsalaries expense $20,500\ncommon stock $41,000\ninterest payable $1,500\nland $40,000\nshort - term investments $6,000\nincome taxes payable $9,000\nequipment $59,500\nsupplies $7,000\nservice revenue $99,000\nsupplies expense $18,000\nutilities expense $8,500\nincome tax expense $10,000\nwhat is the total amount of current assets at the end of the year?\na. $126,000\nb. $135,000\nc. $80,000\nd. $113,000

Answer

Explanation:

Step1: Identify current assets

Current assets include accounts receivable, cash and cash - equivalents, short - term investments, and supplies.

Step2: Calculate total current assets

Add the amounts of identified current assets: $33000 + 80000+6000 + 7000=$126000$

Answer:

A. $126,000