Cash 16000 accounts receivable 11000 inventories 25000, Ask an Expert

Accounting

The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2013, the end of its fiscal year: cash, $16,000; accounts receivable, $11,000; inventories, $25,000; equipment (net), $80,000; accounts payable, $14,000; wages payable, $9,000; interest payable, $1,000; note payable (due in 18 months), $30,000; common stock, $50,000.

find out total current assets and total current liabilities.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M941375

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