1. Kwans boss has asked him to evaluate his current assets on his balance sheet. However, Kwan is not exactly sure what his current assets are. Help Kwan by examining his balance sheet accounts and answering the following questions.

Balance Sheet Accounts
Investments	373,256		Paid in Capital	486,486
Other Current Liabilities	73,954		Accumulated Depreciation	203,144
Building	627,998		Inventories	51,818
Accounts Payable	213,659		Common Stock	133,421
Long-Term Debt	395,315		Prepaid Expenses	15,000
Cash	85,976		Retained Earnings	477,500
Furnishings and Equipment	308,334		Land	309,080
Notes Payable	47,858		Net Receivables	40,000
Marketable Securities	196,154		Other Assets	23,721

Using the balance sheet accounts:

1. Identify the current assets.

2. (List them in the order of liquidity.)

3. Calculate Total Current Assets.

Current Asset Accounts (In Order)	Dollar Amounts
Cash in Hand	85,976
Net Receivables	40,000
Inventories	51,818
Prepaid Expenses	15,000
Marketable Securities	196,154
Total Current Assets

4. Explain to Kwan why each current asset is listed in its particular order of liquidity.

Cash is needed in day to day to operate

2. Aidan Norton owns Aidans Lodge in a rural Midwestern town. His accountant is out with the flu, and Aidan has to develop his balance sheet without his accountants help. Using the following balance sheet accounts, help Aidan complete his balance sheet.