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LEBRON Company revealed the following account balances on December 31, 2019:
Sales 7,500,000
Inventory- Jan 1
Raw materials 200,000
Goods in Process 240,000
Finished Goods 360,000
Inventory- Dec 31
Raw materials 280,000
Goods in Process 170,000
Finished Goods 300,000
Purchases 3,000,000
Direct Labor 950,000
Indirect Labor 250,000
Superintendence 210,000
Light, Heat and power 320,000
Rent- Factory building 120,000
Repair and maintenance- machinery 50,000
Factory supplies used 110,000
Sales salaries 400,000
Advertising 160,000
Depreciation- store equipment 70,000
Office salaries 150,000
Depreciation- office equipment 40,000
Depreciation- machinery 60,000
Sales returns and allowances 50,000
Interest Income 10,000
Gain on sale of equipment 100,000
Delivery Expenses 200,000
Accounting and legal fees 150,000
Office expenses 250,000
Earthquake loss 300,000
Gain from expropriation of asset 100,000
Income tax expense 320,000
10. What amount should be reported as total current assets at year end?
a. 17000000
b. 17500000
c. 15000000
d. 16500000