Given:
Accounts Receivable = $22,000
Accumulated Depreciation-Equipment = $27,000
Cash = $8,400
Equipment = $93,000
Prepaid Rent = $7,000
Short-term Investments = $15,000
To find:
Current assets
Solution:
Current assets are the cash and other assets that are expected to be converted to cash within a year.
From the given, the current assets are account receivable,cash,prepaid rent,and short term investment. Adding all the values we get,
[tex]\text{Current Assets }=\$22000+\$8400+\$15000+\$7000=\$52400[/tex]
Therefore, the value of current assets is $52400.
