Question

Manufacturing Company Balance Sheet

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

Finished goods inventory	$89,400
Prepaid insurance	9,000
Accounts receivable	348,200
Work in process inventory	61,100
Supplies	13,800
Materials inventory	26,800
Cash	167,500

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		$

Answer 1

Diesel Additives Company
Balance Sheet
31st August
Current Assets	Amount	Amount
Cash		$ 167,500.00
Accounts Recievable		$ 348,200.00
Inventories
Finished Goods	$ 89,400.00
Work in Progress	$ 61,100.00
Raw Materials	$ 26,800.00
Total Inventories		$ 177,300.00
Supplies		$    13,800.00
Prepaid Insurance		$      9,000.00
Total Current Assets		$ 715,800.00