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Manufacturing Company Balance Sheet Partial balance sheet data for Upper Crust Company at August 31 are...

  1. Manufacturing Company Balance Sheet

    Partial balance sheet data for Upper Crust Company at August 31 are as follows:

    Finished goods inventory $129,800
    Prepaid insurance 13,100
    Accounts receivable 505,700
    Work in process inventory 88,200
    Supplies 20,300
    Materials inventory 38,900
    Cash 243,400

    Prepare the Current Assets section of Upper Crust Company’s balance sheet at August 31.

    Upper Crust Company
    Balance Sheet
    August 31
    Current assets:
    $fill in the blank 2
    fill in the blank 4
    Inventories:
    $fill in the blank 6
    fill in the blank 8
    fill in the blank 10
    Total inventories fill in the blank 11
    fill in the blank 13
    fill in the blank 15
    Total current assets $fill in the blank 16

Solutions

Expert Solution

Answer

Diesel Additive Company

Balance Sheet
31-Aug
Current assets
Cash $         243,400
Accounts receivables $         505,700
Inventories
Materials Inventory $           38,900
Work-in-process Inventory $           88,200
Finished goods Inventory $         129,800
Total Inventories $         256,900
Supplies $           20,300
Prepaid Insurance $           13,100
Total current assets $      1,039,400

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