MY PROGESSS 1% "Let's start out slowly." you suggest to Alex. "We'll put together a balance sheet first and see where we stand. The first section of the balance sheet lists your assets, so let's start with those. Assets are things that the restaurant owns. Do you have that information? Alex tells you that he had to prepare a list of equipment for his insurance agent, and he has a pretty good idea of his imventory That's a good start" you tell Alex, "but don't forget about the cash you have on hand, how much you have in checking or savings accounts, and any accounts receivable-money you're owed from customers" Alex turns to his computer and after a few minutes, he hands you a list. This is exactly what I need," you tell him. "Now we're going to list these assets as current assets or fixed assets, and we'll put the current assets in the order of liquidity-in other words, how easily they can be converted into cash. Then we'll have the first part of our balance sheet. Accounting Assets Amount Amount Assets Assets $11,400 $2000 Office equipment Cash on hand Restaurant furniture/fixtures $37,000 $13,240 Checking account balance $68,900 $25,000 Kitchen/bar equipment Certificate of deposit at bank $300,000 Accounts receivable from catering $3.000 Building Food/beverage inventory $28,000 Drag each of the assets listed into the correct category in the asset portion of Alex's Ristorante's balance sheet Remember, the current assets should be listed in order of iquidity, with the most liquid assets at the top. Alex's Ristorante Balance Sheet Fixed Assets: Current Assets: Total current assets Total fixed assets Total Assets $ Cash on hand Checking account balance Office equipment Kitchen/bar equipment Accounts receivable from catering Food/beverage inventory Certificate of deposit at bank Building Restaurant furniture/fixtures Accounting and Accounting Information MY PROGRESS- 15% Decision Point: The Balance Sheet: Assets "Let's start out slowly," you suggest to Alex. "We'll put together a balance sheet first and see where we stand. The first section of the balance sheet lists your assets, so let's start with those. Assets are things that the restaurant owns. Do you have that information?" Alex tells you that he had to prepare a list of equipment for his insurance agent, and he has a pretty good idea of his inventory. That's a good start," you tell Alex, "but don't forget about the cash you have on hand, how much you have in checking or savings accounts, and any accounts receivable -- money you're owed from customers." Alex turns to his computer and after a few minutes, he hands you a list. "This is exactly what I need," you tell him. "Now we're going to list these assets as current assets or fixed assets, and we'll put the current assets in the order of liquidity- in other words, how easily they can be converted into cash. Then we'll have the first part of our balance sheet." Accounting Assets Amount Assets Assets Amount Office equipment $2000 Cash on hand $11,400 Restaurant furniture/fixtures $13.240 Checking account balance $37,000 Certificate of deposit at bank Kitchen/bar equipment $25.000 $68,900 $3.000 Building Accounts receivable from catering $300,000 Food/beverage inventory $28,000 Drag each of the assets listed into the correct category in the asset portion of Alex's Ristorante's balance sheet. Remember, the current assets should be listed in order of liquidity, with the most liquid assets at the top. Alex's Ristorante Balance Sheet Current Assets: Fixed Assets: Total current assets Total fixed assets $ Total Assets $ Cash on hand Checking account balance Office equipment Accounts receivable from catering Kitchen/bar equipment Food/beverage inventory Restaurant furniture/fixtures Certificate of deposit at bank Building Submit se