Adventure Travel has an Adjusted Trial Balance for Year Ended December 31, 20XX with the following account balances:

DEBITS: Cash: 25,000; Accounts Receivable: 15,000; Office Supplies: 4,300; Office Equipment: 29,600

CREDITS: Accumulated depreciation - office equipment: 5,000; Salaries Payable: 2,800; Long-term notes payable: 22,200; Common Stock: 20,000; Retained Earnings: 10,260

DEBIT: Cash Dividends: 1,000

CREDITS: Fees Earned: 75,000

DEBITS: Salaries Expense: 32,800; Rent Expense: 16,800; Depreciation expense - office equipment: 3,960; Advertising expense: 4,000; Office supplies expense: 2,800.

Total Debits = 135,260; Total Credits = 135,260

You have prepared the Income Statement and the Statement of Retained Earnings, now it is time to prepare the Classified Balance Sheet.

What amount do you report for Total Current Assets? Specify as a whole number.

Current assets are short-term resources owned by Adventure Travel which are used in its daily operations such as the cash, accounts receivable as well the office supplies which are current assets until consumed

In other words, in a bid to determine current assets total, we sum up the cash, accounts receivable and the office supplies of the company since there are no other current assets aside the aforementioned ones.

Current assets total=cash+ accounts receivable+ office supplies

cash=$25,000

accounts receivable=$ 15,000

office supplies=$4,300

current assets total=$25,000+$15,000+$4,300

current assets total=$44,300

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