Question
The following data were taken from the records of Grouper Company for the fiscal year ended June 30, 2022. Raw Material Inventory 7/1/21 $51,600 Factory
The following data were taken from the records of Grouper Company for the fiscal year ended June 30, 2022.
Raw Material Inventory 7/1/21 | $51,600 | Factory Insurance | $5,200 | |||
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Raw Material Inventory 6/30/22 | 45,500 | Factory Machinery Depreciation | 17,900 | |||
Finished Goods Inventory 7/1/21 | 99,100 | Factory Utilities | 31,100 | |||
Finished Goods Inventory 6/30/22 | 22,300 | Office Utilities Expense | 9,450 | |||
Work in Process Inventory 7/1/21 | 29,600 | Sales Revenue | 557,100 | |||
Work in Process Inventory 6/30/22 | 28,100 | Sales Discounts | 5,000 | |||
Direct Labor | 145,750 | Plant Managers Salary | 65,300 | |||
Indirect Labor | 26,660 | Factory Property Taxes | 9,710 | |||
Accounts Receivable | 35,400 | Factory Repairs | 2,200 | |||
Raw Material Purchases | 99,000 | |||||
Cash | 39,400 |
Prepare the current assets section of the balance sheet at June 30, 2022. (List Current Assets in order of liquidity.)
GROUPER COMPANY (Partial) Balance Sheet choose the accounting period June 30, 2022For the Year Ended June 30, 2022For the Month Ended June 30, 2022 | ||||||
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select an opening section name Current AssetsTotal Intangible AssetsTotal Current AssetsProperty, Plant and EquipmentTotal Liabilities and Stockholders' EquityCurrent LiabilitiesInventoriesTotal Property, Plant and EquipmentTotal Current LiabilitiesLong-term LiabilitiesLong-term InvestmentsTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal LiabilitiesIntangible AssetsTotal Stockholders' EquityStockholders' Equity | ||||||
enter a balance sheet item | $enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
select an opening subsection name Intangible AssetsTotal Long-term InvestmentsCurrent LiabilitiesLong-term InvestmentsTotal Property, Plant and EquipmentStockholders' EquityTotal Stockholders' EquityTotal Liabilities and Stockholders' EquityCurrent AssetsTotal Long-term LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Current AssetsTotal Current LiabilitiesProperty, Plant and EquipmentInventoriesLong-term Liabilities | ||||||
enter a balance sheet item | $enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
enter a balance sheet item | enter a dollar amount | |||||
enter a subtotal of the three previous amounts | ||||||
select a closing section name Total Intangible AssetsTotal LiabilitiesLong-term InvestmentsTotal Liabilities and Stockholders' EquityTotal Current LiabilitiesTotal Stockholders' EquityTotal Long-term LiabilitiesStockholders' EquityCurrent LiabilitiesTotal Current AssetsProperty, Plant and EquipmentIntangible AssetsLong-term LiabilitiesCurrent AssetsTotal Long-term InvestmentsTotal Property, Plant and EquipmentInventories | $enter a total amount for this section |
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