The following accounts were taken from abc companyrsquos


The following accounts were taken from ABC Company’s unadjusted trial balance at December 31, 2014:

Accounts Payable ............  $58,000

Accounts Receivable .........  $64,000

Accumulated Depreciation ....  $27,000

Advertising Expense .........  $14,000

Building ....................  $81,000

Cash ........................  $30,000

Contributed Capital .........  $94,000

Cost of Goods Sold ..........  $67,000

Dividends ...................  $12,000

Equipment ...................  $68,000

Income Tax Expense ..........  $17,000

Interest Revenue ............  $36,000

Inventory ...................  $62,000

Notes Payable ...............  $93,000

Prepaid Insurance ...........  $18,000

Rent Expense ................  $10,000

Retained Earnings ...........  $40,000 (at January 1, 2014)

Sales Revenue ...............  $99,000

Trademark ...................  $31,000

Unearned Revenue ............  $27,000

ABC Company has not yet recorded adjusting entries related to the following four items:

(1)  The prepaid insurance in the unadjusted trial balance relates to a two-year insurance policy purchased on September 1, 2014.

(2)  Salaries earned by employees which have not yet been paid by ABC Company totaled $19,000.

(3)  The unearned revenue in the unadjusted trial balance relates to a $27,000 payment from a customer received on May 1, 2014 for work to be performed each month for the next 18 months.

(4)  Depreciation expense of $4,000 has not yet been recorded.

Calculate the total current assets reported in ABC Company's balance sheet at December 31, 2014 after the appropriate adjusting entries have been recorded and posted. Do not use decimals in your answer.

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Financial Accounting: The following accounts were taken from abc companyrsquos
Reference No:- TGS0999681

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