Question

Partial balance sheet data for Diesel Additives Company at August 31 are as follows:Finished goods inventory................$ 89,400Supplies.............................................$ 13,800Prepaid insurance..................................9,000Materials inventory..............................26,800Accounts receivable...........................348,200Cash.....................................................167,500Work in process inventory..................61,100Prepare the Current Assets section of Diesel Additives Company's balance sheet at August 31.

Answer 1

Answer:

Diesel Additives Company

Current Assets section

Materials inventory                                26,800

Work in process inventory                      61,100

Finished goods inventory                      89,400

Supplies                                                    13,800

Prepaid insurance                                    9,000

Accounts receivable                            348,200

Cash                                                        167,500

Total Current Assets                              715,800

Explanation:

Current Assets section of Diesel Additives Company's balance sheet at August 31 is shown above.