Anderson Enterprises currently has $400 in cash.. The company owes $1,200 to sup

Question

Anderson Enterprises currently has $400 in cash.. The company owes $1,200 to suppliers for merchandise and $4,500 to the bank for long term loan. Customers owe Anderson's $2,900. The inventory has a book value of $3,700 and an estimated market value of $4,490. If Anderson's compiled a financial statement today, how much would it show as the value of the current assets? Anderson Enterprises currently has $400 in cash.. The company owes $1,200 to suppliers for merchandise and $4,500 to the bank for long term loan. Customers owe Anderson's $2,900. The inventory has a book value of $3,700 and an estimated market value of $4,490. If Anderson's compiled a financial statement today, how much would it show as the value of the current assets?

Explanation / Answer

Anderson's compiled a financial statement today,

the value of the current assets = Cash $400 + Accounts Receivable $2900 + Inventory at book value $3700 = Total current assets $7000

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