Prepare the Current assets section of Diesel Additives Company’s balance sheet at August 31. Refer to the Labels and Accounts list provided for the exact wording of the answer choices for text entries. Labels

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Partial balance sheet data for Diesel Additives Company at August 31 are as follows:
Finished goods inventory $42,000
Prepaid insurance 26,000
Accounts receivable 105,000
Work in process inventory 153,000
Supplies 72,300
Materials inventory 88,250
Cash 117,000
 
Prepare the Current assets section of Diesel Additives Company’s balance sheet at August 31. Refer to the Labels and Accounts list provided for the exact wording of the answer choices for text entries.
Labels
 
August 31  
Current assets  
For the Month Ended August 31  
For the Year Ended August 31  
Inventories  
Accounts  
Accounts receivable  
Accumulated depreciation-equipment  
Cash  
Equipment  
Finished goods  
Materials  
Prepaid insurance  
Supplies  
Total inventories  

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Prepare the Current assets section of Diesel Additives Company’s balance sheet at August 31. Refer to the Labels and Accounts list provided for the exact wording of the answer choices for text entries.
 
Diesel Additives Company
Balance Sheet
 
1
 
 
 
2
 
 
 
3
 
 
 
4
 
 
 
5
 
 
 
6
 
 
 
7
 
 
 
8
 
 
 
9
 
 
 
10
 
 
 
11
Total current assets
 
 
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