Question
Selected data for three companies are given below. All inventory amounts are ending balances and all amounts are in millions. 1(Click the icon to view
Selected data for three companies are given below. All inventory amounts are ending balances and all amounts are in millions.
1(Click
the icon to view the data.)
Requirement
Using the above data, calculate total current assets for each company. (If a box is not used in the table, leave the box empty; do not select a label or enter a zero. Enter amounts in millions as provided to you in the problem statement, $X.)
Begin by calculating total current assets for Company A.
(1) |
|
(2) |
|
(3) |
|
(4) |
|
(5) |
|
Total current assets |
|
Now calculate total current assets for Company B.
(6) |
|
(7) |
|
(8) |
|
(9) |
|
(10) |
|
Total current assets |
|
Finally, calculate total current assets for Company C.
(11) |
|
(12) |
|
(13) |
|
(14) |
|
(15) |
|
Total current assets |
|
1: Data Table
Company A |
| Company B |
| Company C | |||
Cash | $10 |
| Wages Expense | $14 |
| Administrative Expenses | $5 |
Net Sales Revenue | 35 |
| Equipment | 24 |
| Cash | 9 |
Finished Goods Inventory | 5 |
| Accounts Receivable | 7 |
| Net Sales Revenue | 82 |
Cost of Goods Sold | 21 |
| Service Revenue | 41 |
| Selling Expenses | 2 |
Selling Expenses | 1 |
| Cash | 29 |
| Merchandise Inventory | 18 |
Equipment | 62 |
| Rent Expense | 11 |
| Equipment | 54 |
Work-in-Process Inventory | 1 |
|
| Accounts Receivable | 11 | ||
Accounts Receivable | 12 |
|
| Cost of Goods Sold | 33 | ||
Cost of Goods Manufactured | 26 |
|
| ||||
Administrative Expenses | 3 |
|
| ||||
Raw Materials Inventory | 1 |
|
|
|
|
|
|
(1)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Manufactured
Cost of Goods Sold
Equipment
Finished Goods Inventory
Net Sales Revenue
Raw Materials Inventory
Selling Expenses
Work-in-Process Inventory
(2)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Manufactured
Cost of Goods Sold
Equipment
Finished Goods Inventory
Net Sales Revenue
Raw Materials Inventory
Selling Expenses
Work-in-Process Inventory
(3)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Manufactured
Cost of Goods Sold
Equipment
Finished Goods Inventory
Net Sales Revenue
Raw Materials Inventory
Selling Expenses
Work-in-Process Inventory
(4)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Manufactured
Cost of Goods Sold
Equipment
Finished Goods Inventory
Net Sales Revenue
Raw Materials Inventory
Selling Expenses
Work-in-Process Inventory
(5)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Manufactured
Cost of Goods Sold
Equipment
Finished Goods Inventory
Net Sales Revenue
Raw Materials Inventory
Selling Expenses
Work-in-Process Inventory
(6)
Accounts Receivable
Cash
Equipment
Rent Expense
Service Revenue
Wages Expense
(7)
Accounts Receivable
Cash
Equipment
Rent Expense
Service Revenue
Wages Expense
(8)
Accounts Receivable
Cash
Equipment
Rent Expense
Service Revenue
Wages Expense
(9)
Accounts Receivable
Cash
Equipment
Rent Expense
Service Revenue
Wages Expense
(10)
Accounts Receivable
Cash
Equipment
Rent Expense
Service Revenue
Wages Expense
(11)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Sold
Equipment
Merchandise Inventory
Net Sales Revenue
Selling Expenses
(12)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Sold
Equipment
Merchandise Inventory
Net Sales Revenue
Selling Expenses
(13)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Sold
Equipment
Merchandise Inventory
Net Sales Revenue
Selling Expenses
(14)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Sold
Equipment
Merchandise Inventory
Net Sales Revenue
Selling Expenses
(15)
Accounts Receivable
Administrative Expenses
Cash
Cost of Goods Sold
Equipment
Merchandise Inventory
Net Sales Revenue
Selling Expenses
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started