Question

The CEO of Jisko requests our help in preparing year-end financial reports. The CEO explains that they are having difficulty classifying accounts. The Tableau dashboard shows December 31 year-end data from the company’s accounting system.
Prepare the current assets section of its December 31 year-end balance sheet.

Answer 1

A current asset is an asset that can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year

What is current asset?

Your information is incomplete. Therefore, an overview of the current asset will be given. Current assets are those that you can convert into cash within one year, such as short-term investments and accounts receivable.

Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.

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