Mumay Company trial balance has the following selected accounts: Cash (includes P100,000 in bond sinking fund for long term bond payable) 500,000 Accounts receivable 200,000 Allowance of uncollectible...

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Mumay Company trial balance has the following selected accounts:<br>Cash (includes P100,000 in bond sinking fund for long term bond payable)<br>500,000<br>Accounts receivable<br>200,000<br>Allowance of uncollectible accounts<br>50,000<br>Deposits received from customers<br>Merchandise inventory<br>30,000<br>70,000<br>Unearned rent<br>10,000<br>Investment at fair value to profit or loss<br>20,000<br>What amount should Mumay Company report as total current assets in its statement of financial position?<br>D. 740,000<br>A. 640,000<br>В.<br>670,000<br>C.<br>720,000<br>

Extracted text: Mumay Company trial balance has the following selected accounts: Cash (includes P100,000 in bond sinking fund for long term bond payable) 500,000 Accounts receivable 200,000 Allowance of uncollectible accounts 50,000 Deposits received from customers Merchandise inventory 30,000 70,000 Unearned rent 10,000 Investment at fair value to profit or loss 20,000 What amount should Mumay Company report as total current assets in its statement of financial position? D. 740,000 A. 640,000 В. 670,000 C. 720,000

Jun 11, 2022

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Mumay Company trial balance has the following selected accounts: Cash (includes P100,000 in bond sinking fund for long term bond payable) 500,000 Accounts receivable 200,000 Allowance of uncollectible...

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