Mint Corp.’s trial balance as of December 31, year 6 is presented below and has been adjusted except for income tax expense. Other financial data for the year ended December 31, year 6, are as follows: The Mint uses the percentage of completion method to account for long-term construction contracts for financial statement and income tax purposes. All accounts receivable

Sep 8, 2023

Mint Corp.’s trial balance as of December 31, year 6 is presented below and has been adjusted except for income tax expense. Other financial data for the year ended December 31, year 6, are as follows:

The Mint uses the percentage of completion method to account for long-term construction contracts for financial statement and income tax purposes. All accounts receivable from these contracts are considered collectible within 12 months.

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Mint Corp.’s trial balance as of December 31, year 6 is presented below and has been adjusted except for income tax expense. Other financial data for the year ended December 31, year 6, are as follows: The Mint uses the percentage of completion method to account for long-term construction contracts for financial statement and income tax purposes. All accounts receivable
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During year 6, estimated tax payments of $450,000 were charged to prepaid taxes. Mint has not recorded an income tax expense. There were no temporary or permanent differences, and the Mint’s tax rate is 30%.

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Money

$ 600,000

Accounts receivable, net

3,500,000

Costs above billing in long-term contracts

1,600,000

Billing in excess of costs on long-term contracts

$ 700,000

prepaid taxes

450.000

Fixed assets, net

1,480,000

Document payable – non-current

1,620,000

Common actions

750.000

Additional payment in principal

2,000,000

Retained earnings — unallocated

900,000

Retained earnings — restricted to notes payable

160.000

Earnings from long-term contracts

6,680,000

Costs and expenses

5,180,000

$12,810,000

$12,810,000

On the Mint’s balance sheet for December 31, year 6, what amount should be reported as total current assets?

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