Listed here are certain accounts of Jenkins Company at the end of 2016: Account Debit (Credit) Land.......................

Question:

Listed here are certain accounts of Jenkins Company at the end of 2016:
Account Debit (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 at the end of 2016.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...