Question

Calculator Manufacturing company balance sheet Balance Sheet Instructions Partial balance sheet data for Diesel Additives Company at August 31 are as follows. Finished goods inventory Prepaid insurance Accounts receivable S42,000 26,000 105,000 153,000 72 300 Work in process inventory Supplies Materials inventory 88.250 Cash 117 000

Answer 1

Current assets section of Balance sheet of Diesel additives on August 31 are as follows :-

Current assets	Amounts ($)	Amount ($)
Material inventory	88250
Work in process inventory	153000
Finished goods inventory	42000	283250
Supplies	72300	72300
Accounts receivable	105000	105000
Prepaid insurance	26000	26000
Cash	117000	117000
Total current assets		603550

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