Current Assets Listed here are certain accounts of Jenkins Company at the end of
ID: 2420407 • Letter: C
Question
Current Assets Listed here are certain accounts of Jenkins Company at the end of 2016:
Account Debt (Credit)
Land $12,000
Prepaid Insurance 1,530
Cash on Hand 1,120
Notes Receivable (Due 2016) 4,300
Cash in Bank 5,400
Allowance for Doubtful Accounts (1,100)
Marketable Securities (Short-term) 3,380
Accumulated Depreciation (8,700)
Accounts Receivable 15,600
Office Supplies 970
Buildings 27,200
Inventory 19,700
Required:
Prepare the current assets section of Jenkins's balance sheet at the end 2016.
Explanation / Answer
Balance Sheet
Assets
current assets amount
Prepaid Insurance 1,530
Cash on Hand 1,120
Notes Receivable (Due 2016) 4,300
Cash in Bank 5,400
Allowance for Doubtful Accounts (1,100)
Marketable Securities (Short-term) 3,380
Accounts Receivable 15,600
Office Supplies 970
Inventory 19,700
Total Current Assets $50900
NOTE: REST ALL ARE FIXED ASSETS
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