Question

Do It! Review 2-012 Pharoah Company has collected the following information related to its December 31, 2022, balance sheet. Accounts receivable Accumulated depreciation-equipment Cash Stock investments (long-term) $15,000 46,300 19,500 1,500 Equipment Inventory Supplies Goodwill $188,000 63,000 6,300 5,000 Prepare the assets section of Pharoah Company's balance sheet. (List Current Assets in order of liquidity.) PHAROAH COMPANY Balance Sheet (partial) For the Quarter Ended December 31, 2022 Assets Current Assets Cash 19,500 Accounts Receivable 15,000 Inventory 63,000 Supplies 6,300 Total Current Assets 103800 Reserved. A Division of John Wiley & Sons, Inc. Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total abilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, plant and Equipment Total Stockholders' Equity

Pharoah Company has collected the following information related to its December 31, 2022, balance sheet. Accounts receivable $15,000 Equipment $188,000 Accumulated depreciation-equipment 46,300 Inventory 63,000 Cash 19,500 Supplies 6,300 Stock investments (long-term) 1,500 Goodwill 5,000

Answer 1

Balance sheet for the quarter ended December 31, 2022:

Description	Amount	Amount
Assets
Current assets:
Cash	$19500
Accounts receivable	$15000
Supplies	$6300
Inventory	$63000
Total current assets		$103800
Long term investments		$1500
Property, Plant & equipment
Equipment	$188000
Less: Accumulated depreciation	($46300)
Net Equipment		$141700
Intangible assets:
Goodwill	$5000
Total intangible assets		$5000
Total assets		$252000