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What are my total current assets?
Cash and cash equivalents $ 5,000
Accounts receivable (net) 20,000 Inventories 60,000 Property, plant, and equipment (net) 120,000 Accounts payable 44,000 Wages payable 15,000 Paid-in-capital 100,000 How do you compute total current assests? |
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A current asset is an asset that is or can be converted into cash within one year or one business cycle. So:
Cash is a current asset Accounts Receivable is a current asset Inventory is a current asset Property, Plant, & Equipment is a fixed asset Accounts Payable is a current liability Wages Payable is a current liability Paid-in Capital is Owners Equity |
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