Prepare the assets section of a classified balance sheet, listing the current assets in order of their liquidity. Inventory $17,000 Patents $12,500 Notes receivable—due after December 31, 2019 5,500 Buildings 21,600 Notes receivable—due before December 31, 2019 400 Cash 9,200 Accumulated depreciation—buildings 12,800 Accounts receivable 5,800 Debt investments (short-term) 2,008
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Suppose the following items were taken from the December 31, 2018, assets section of the Warren Company
Instructions
Prepare the assets section of a classified balance sheet, listing the current assets in order of their liquidity.
Inventory |
$17,000 |
Patents |
$12,500 |
Notes receivable—due after December 31, 2019 |
5,500 |
Buildings |
21,600 |
Notes receivable—due before December 31, 2019 |
400 |
Cash |
9,200 |
Accumulated depreciation—buildings |
12,800 |
Accounts receivable |
5,800 |
|
|
Debt investments (short-term) |
2,008 |
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