Question
Current Assets Listed here are certain accounts of Jenkins Company at the end of 2016: Account Debit (Credit) Land $ 12,000 Prepaid Insurance 1,530 Cash
Current Assets
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 asset section of Jenkins' balance sheet at the end of 2016.
| JENKINS COMPANY | ||
| Current Asset Section of Balance Sheet | ||
| December 31, 2016 | ||
| Current Assets | ||
| Cash: | ||
| $ | ||
| $ | ||
| $ | ||
| Prepaid items: | ||
| $ | ||
| $ | ||
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Principles Of Auditing An Introduction To International Standards On Auditing
Authors: Rick Stephan Hayes, Roger Dassen, Arnold Schilder, Philip Wallage
2nd Edition
0273684108, 978-0273684107
