Manufacturing company balance sheet Labels and Accounts Bala

Manufacturing company balance sheet Labels and Accounts Balance Sheet Instructions Partial balance sheet data for Flat Top Company at December 31, 2016, are as follows: Finished goods inventory Prepaid insurance Accounts receivable Work in process inventory Supplies Materials inventory Cash $39,000 26,250 104,500 156,500 70,100 89,750 19,000 Prepare the Current Assets section of Flat Top Company\'s balance sheet at December 31, 2016.Refer to the Labels and Accounts list provided for the exact wording of the answer choices for text entries

Solution

Flat Top Company Balance Sheet December 31,2016 Current assets: Cash 119000 Account Receivable 104500 Inventories: Finished goods 39000 Work in Process 156500 Materials 89750 285250 Supplies 70100 Prepaid insurance 26250 Total current assets 605100