(Solved): Question \#1 Determine whether the following are current or noncurrent assets and liabilities for Jo ...

Question \#1 Determine whether the following are current or noncurrent assets and liabilities for Joe's balance sheet. Place and x under in the corresponding cell. (1/2 point each) (Due to accessibility of Canvas - you may instead list the category to which each item applies.) Item Current Asset Non-Current Asset Current Liability Non-Current Liability Cash \$35,000 Current portion of term debt due: \$60,000 Inventory: Corn- \$95,000 Seed- \$60,000 Real Estate Debt- \$925,000 Accounts payable- \$10,000 Land- \$1,500,000 Accounts receivable- \$35,000 Accrued Interest- \$6,000 Machinery- \$410,000 Machinery debt- \$250,000 Taxes due this year: \$45,000 Question \#2- Calculate sum of Current Assets for Joe's farm. (1 pt) Question \#3- Calculate sum of Non-Current Assets for Joe's farm. (1 pt) Question \#4- Calculate sum of Current Liabilities for Joe's farm. (1 pt) Question \#5- Calculate sum of Non-Current Liabilities for Joe's farm. (1 pt)