Partial balance sheet data for Diesel Additives Company at August 31 are as follows: Finished goods inventory $14,100 Prepaid insurance 14,400 Accounts receivable 36,700 Work in process inventory 56,400 Supplies 25,400 Materials inventory 31,000 Cash 39,500 Prepare the Current assets section of Diesel Additives Company’s balance sheet at August 31.

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter15: Capital Investment Analysis
Section: Chapter Questions
Problem 15.5.4MBA
icon
Related questions
Question

Partial balance sheet data for Diesel Additives Company at August 31 are as follows:

Finished goods inventory $14,100
Prepaid insurance 14,400
Accounts receivable 36,700
Work in process inventory 56,400
Supplies 25,400
Materials inventory 31,000
Cash 39,500

Prepare the Current assets section of Diesel Additives Company’s balance sheet at August 31.

 

Diesel Additives Company
Balance Sheet
August 31
Current assets:
Inventories:
Total inventories
Total current assets
%24
%24
Transcribed Image Text:Diesel Additives Company Balance Sheet August 31 Current assets: Inventories: Total inventories Total current assets %24 %24
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Financial Reporting in Hyperinflationary Economies
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial & Managerial Accounting
Financial & Managerial Accounting
Accounting
ISBN:
9781285866307
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning