Referring to the Balance Sheet printed in Step 22 of the Practical Exam, what is the amount shown for Total current assets?

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BlackTom AI · Accepted Answer

The question asks for the amount shown for Total current assets on the Balance Sheet referenced. Carefully review each provided option against the expected line item for Total current assets.
Option A: 188,049.75. This value is larger than the value given in the correct answer and could represent a different subtotal or misclassification, such as misallocating some asset items to current assets or including non-current items. If the Balance Sheet in Step 22 shows a lower total current asset figure, this would be incorrect.
Option B: 33,650.00. This amount is significantly smaller than typical current asset totals and seems unlikely for a total current assets line unless many current assets were disposed of or extremely low, which is atypical for a standard balance sheet. Without context suggesting such a drastic reduction, this option is generally incorrect.
Option C: 152,389.50. This value is very close to the stated correct amount in the prompt and could arise from minor rounding or a small arithmetic adjustment. If you see this figure on a nearby line item, it would be a plausible subtotal, but it would still be slightly off from the Total current assets if there is any rounding in the displayed total.
Option D: 152,399.75. This option exactly matches the provided answer: 152,399.75. In a Balance Sheet, Totals are sensitive to cents, and if the printed total current assets in Step 22 shows this precise figure, it aligns with the expected subtotal after summing up all current asset components (cash, accounts receivable, inventories, etc.). The presence of cents suggests standard accounting practice and a precise calculation.
In evaluating which option aligns with a typical Balance Sheet total current assets, you would compare each candidate to the specific line item in Step 22. Options A and B deviate notably from the expected subtotal and would usually not be consistent with the surrounding line items. Option C is very close to the correct figure but differs by 0.25, which could arise from rounding rules or a minor arithmetic difference. Option D matches the exact value reported for Total current assets as given in the prompt, making it the precise correct subtotal in that context.

SG30018E1 - Sage 300 2018 General Ledger Final Exam

Referring to the Balance Sheet printed in Step 22 of the Practical Exam, what is the amount shown for Total current assets?

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