signment CALCULAIOR HESSAGE MY INSTRUCTOR FULL SCREEN PHINTER VIRSION 4BACK Brie
ID: 2557267 • Letter: S
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signment CALCULAIOR HESSAGE MY INSTRUCTOR FULL SCREEN PHINTER VIRSION 4BACK Brief Exercise 5-1 Pronghorn Corporation has the following accounts included in its December 31, 2017, trial balance: Accounts Recelvable s118,400, Inventory $294,300, Allowance for Doubtful Accounts $8,310, Patents $74,400, Prepaid Insurance $9,800, Accounts Payable $82,10o, and Cash $31,600. Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity) CORPORATION Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work LIST OF ACCOUNTS Version 4.24.5. All Rights Reserved. A Division of John Wiley &Sons; Is -19 PMExplanation / Answer
5-1 Balance sheet Current assets Cash 31600 Accounts receivable 118400 allowance for doubtful accounts -8310 110090 Inventory 294300 Prepaid insurance 9800 Total current asset 445790 5-2 Balance sheet Current assets Cash 7290 Equity investment (Current) 12540 Accounts receivable 91620 allowance for doubtful accounts -4730 86890 Inventory 34100 Prepaid insurance 5330 Total current asset 146150 5-3 Balance sheet Current liabilities Accounts payable 80300 Note payable due in 90 days 22600 Salaries and wages payable 4730 Income tax payable 7790 Total current liabilities 115420
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