Josey Doakes was reading the balance sheet of Gogoldze Inc. when she spilled grape juice on it. After the juice spill, the balan

Question

2 years ago

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Josey Doakes was reading the balance sheet of Gogoldze Inc. when she spilled grape juice on it. After the juice spill, the balan

ce sheet looked like this:($ millions) Â Â Â Â 12/31/2015Cash Â Â Â Â Â Â Â 90Accounts Receivable Â Â Â Â Â Â 210Inventory Â Â Â Â Â Â 410Other Current Assets Â Â Â Â grapeCurrent Assets Â Â Â Â juiceNet Property, Plant, & Equipment Â Â Â Â 1,080Total Assets Â Â Â Â grapeÂ Â Â Â Â Â Â Â juiceAccounts Payable Â Â Â Â Â Â 115Other Current Liabilities Â Â Â Â Â Â 260Current Liabilities Â Â Â Â Â Â 375Long-term Liabilities Â Â Â Â Â Â 860Common Stock Â Â Â Â Â Â Â 50Additional Paid-in-Capital Â Â Â Â Â Â 300Retained Earnings Â Â Â Â Â Â 285Total Liabilities and SE Â Â Â Â 1,870What was Gogoldze Inc.'s Other Current Assets at 12/31/2015?a. $710b. $120c. $370d. $80e. $790

Business

1 answer:

vladimir2022 [97] · Answer 1 · 2023-07-19T12:18:25+03:00

Answer:

d. $80

Explanation:

The computation of the other current assets is shown below:

= Total assets - Net Property, Plant, & Equipment - cash - Accounts Receivable - inventory - Other Current Assets

= $1,870 - $1,080 - $90 - $210 - $410 - Other Current Assets

= $80 - Other Current Assets

So, the other current assets would be $80

And, we know that

Total assets = Total liabilities + total stockholder equity

So,

Total assets = $1,870