Don’t
understand how to get total current assetsHomework Answers
SOLUTION
Balance sheet (Partial)
| Amount ($) | Amount ($) | |
| Assets: | ||
| Current assets- | ||
| Cash | 110,000 | |
| Accounts receivable | 105,500 | |
| Inventories- | ||
| Finished goods | 41,750 | |
| Work in process | 155,000 | |
| Materials | 87,500 | 284,250 |
| Supplies | 71,600 | |
| Prepaid insurance | 27,250 | |
| Total current assets | 598,600 |
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