Use the information below for the Greek Corporation to answer the following ques

Question

Use the information below for the Greek Corporation to answer the following questions. Balance Sheet Accounts of Greek Corporation Account Balance 12/31/2014 Accumulated depreciation $3,060 Accounts payable $2,750 Accounts receivable $3,200 Cash $1,500 Common stock $6,250 Inventory $4,500 LongminusTerm debt $7,100 Plant, property, and equipment $14,800 Retained earnings $4,840 Refer to the Balance Sheet Accounts of Greek Corporation. The value of current assets for the yearminusend is ________. A. $11,090 B. $9,200 C. $6,450 D. $11,740 Click to select your answer.

Explanation / Answer

Ans) Current Assets = Accounts Receivable + Cash + Inventory

= $3,200 + $1,500 + $4,500

= $9,200

i.e option B.

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