# Calculate current assets for taron company

Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company: Account Title Dr. Cr. Cash \$ 23,000 Accounts receivable 16,000 Prepaid insurance 6,600 Equipment 100,000 Accumulated depreciation—Equipment \$ 50,000 Land 95,000 Accounts payable 17,000 Interest payable 2,400 Unearned revenue 5,000 Long-term notes payable 30,000 Retained earnings 136,200 Totals \$ 240,600 \$ 240,600

\$45,600

Explanation:

The total assets comprises of current assets, fixed assets and the intangible assets

The current assets includes cash, stock, account receivable, etc

Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.

And, the intangible assets include patents, copyrights, goodwill, etc.

The computation of the current asset is shown below:

= Cash + Accounts receivable + Prepaid insurance

= \$23,000 + \$16,000 + \$6,600

= \$45,600

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