Answered: 2. Prepare the current assets section…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The CEO of Jisko requests our help in preparing year-end financial reports. The CEO explains that they are having difficulty classifying accounts. The Tableau dashboard shows December 31 year-end data from the company’s accounting system.

the assests are

land used in operations 114,000

long term invested in stocls 36,000

notes receivable (due in 3 years) 26,000

accounts receivable 24,000

cash 26,000

prepaid expenses 10,800

supplies 10,200

inventory 55,000

intangibile assests 15,000

trucks accumulated depreciation 12,000

liabilities and equity are in the pictures

Accounts Payable
Wages Payable
Interest Payable
Notes Payable (due in 9 years)
Mortgage Payable (due in 20 years)
J. Carter, Capital
#+ableau
$0
Liabilities & Equity
$25,000
$50,000
$75,000
↑
$100,000
▶
K&
$125,000
? O

2. Prepare the current assets section of its December 31 year-end balance sheet.
Current assets
Total current assets
JISKO
Balance Sheet
December 31
Assets

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