31) The following accounts were included on Aeroplane Consultants adjusted trial balance at December 31, 2018:...

31) The following accounts were included on Aeroplane Consultants adjusted trial balance at December 31, 2018:

Accounts receivable	$ 10,200
Accounts payable	16,000
Cash	7,500
Common stock	30,000
Dividends	12,000
Inventory	15,000
Sales taxes payable	1,350
Equipment	8,000
Interest expense	3,500
Note payable, due 8/31/21	60,000
Bonds payable	150,000
Salaries payable	7,000
Retained earnings	18,000
Unearned revenue	4,000
Prepaid supplies	2,000
Service revenue	44,000

Requirements: (Show all work)

Total current assets?
Total current liabilities?

Expert Solution

a.

Total Current Assets
	$
Current Assets
Accounts receivable	10,200.00
Cash	7,500.00
Inventory	15,000.00
Prepaid supplies	2,000.00
Total Current assets	34,700.00

b.

Total Current liabilities
	$
Accounts payable	16,000.00
Sales taxes payable	1,350.00
Salaries Payable	7,000.00
Unearned revenue	4,000.00
Total Current liabilities	28,350.00

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