FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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QS 14-12 (Algo) Preparing a balance sheet LO P1
Prepare the current assets section of the balance sheet at December 31 for Bin Manufacturing using the following information. Hint
Not all information given is needed for the solution.
Cash
Accounts payable
Raw materials inventory
General and administrative expenses
Accounts receivable, net
Selling expenses
Finished goods inventory
Work in process inventory
Prepaid insurance
Cost of goods sold
BIN MANUFACTURING
Current Assets Section of the Balance Sheet
December 31
Total current assets
$ 22,100
2,100
8,100
42, 100
12, 100
12, 100
22, 100
18, 100
4,100
33, 100
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Transcribed Image Text:ok ences QS 14-12 (Algo) Preparing a balance sheet LO P1 Prepare the current assets section of the balance sheet at December 31 for Bin Manufacturing using the following information. Hint Not all information given is needed for the solution. Cash Accounts payable Raw materials inventory General and administrative expenses Accounts receivable, net Selling expenses Finished goods inventory Work in process inventory Prepaid insurance Cost of goods sold BIN MANUFACTURING Current Assets Section of the Balance Sheet December 31 Total current assets $ 22,100 2,100 8,100 42, 100 12, 100 12, 100 22, 100 18, 100 4,100 33, 100
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