Account, Labels and amount descriptions_____________________•According received •Accumulated deprecating- equipment •Cash •Equipment •Finished goods •Materials•Prepaid insurance•Supplies•Work in progress•Labels •August 31•For the month ended august 31•Current assets•Inventories•Amount descriptions •Total inventories •Total current assets InstructionsPartial balance sheet data for Diesel Additives Company at August 31 are as follows:Finished goods inventory$39,000Prepaid insurance26,250Accounts receivable104,500Work in process inventory156,500Supplies70,100Materials inventory89,750Cash119,000Prepare the "Current assets" section of Diesel Additives Company's balance sheet at August 31. Be sure to complete the statement heading. Refer to the Accounts, Labelsand Amount Descriptions list provided for the exact wording of the answer choices for text entries. A colon (;) will automatically appear if it is required. Prepare the "Current assets" section of Diesel Additives Company's balance sheet at August 31. Be sure to complete the statement heading. Refer to the Accounts, Labelsand Amount Descriptions list provided for the exact wording of the answer choices for text entries. A colon () will automatically appear if it is required.Diesel Additives CompanyBalance Sheet(Label)1 (Label)23.4 (Label)591011PreviousNext>

A current asset is a liquid asset that is expected to be consumed, used, or converted into cash…

Answered: Partial balance sheet data for Diesel…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 41E: Cost of goods sold and related items The following data were extracted from the accounting records...

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Account, Labels and amount descriptions _____________________ •According received •Accumulated deprecating- equipment •Cash •Equipment •Finished goods •Materials •Prepaid insurance •Supplies •Work in progress •Labels •August 31 •For the month ended august 31 •Current assets •Inventories •Amount descriptions •Total inventories •Total current assets

Instructions
Partial balance sheet data for Diesel Additives Company at August 31 are as follows:
Finished goods inventory
$39,000
Prepaid insurance
26,250
Accounts receivable
104,500
Work in process inventory
156,500
Supplies
70,100
Materials inventory
89,750
Cash
119,000
Prepare the "Current assets" section of Diesel Additives Company's balance sheet at August 31. Be sure to complete the statement heading. Refer to the Accounts, Labels
and Amount Descriptions list provided for the exact wording of the answer choices for text entries. A colon (;) will automatically appear if it is required.

Prepare the "Current assets" section of Diesel Additives Company's balance sheet at August 31. Be sure to complete the statement heading. Refer to the Accounts, Labels
and Amount Descriptions list provided for the exact wording of the answer choices for text entries. A colon () will automatically appear if it is required.
Diesel Additives Company
Balance Sheet
(Label)
1 (Label)
2
3.
4 (Label)
5
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