Supplies 8,900 (a) 4,000 Vehicles 22,400 Notes receivable (due February 1, 2026) 6.100 Cash Short-term investments Merchandise inventory 15,100 7,000 9,500 Determine which accounts are current assets and prepare the current assets section of the balance sheet as at Decembe 2024, with the accounts in order of decreasing liquidity (List Current Assets in order of decreasing liquidity)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The December 31, 2024, adjusted trial balance of Wildhorse Company includes the following accounts:
Accounts receivable
Prepaid insurance
Goodwill
Supplies
$13,500
1,400
8,900
(a)
4,000
Vehicles
22,400
Notes receivable (due February 1, 2026) 6.100
Patents
Unearned revenue
Cash
Short-term investments
Merchandise inventory
$3,800
2,900
15,100
7,000
9,500
Determine which accounts are current assets and prepare the current assets section of the balance sheet as at Decembe
2024, with the accounts in order of decreasing liquidity (List Current Assets in order of decreasing liquidity)
Transcribed Image Text:The December 31, 2024, adjusted trial balance of Wildhorse Company includes the following accounts: Accounts receivable Prepaid insurance Goodwill Supplies $13,500 1,400 8,900 (a) 4,000 Vehicles 22,400 Notes receivable (due February 1, 2026) 6.100 Patents Unearned revenue Cash Short-term investments Merchandise inventory $3,800 2,900 15,100 7,000 9,500 Determine which accounts are current assets and prepare the current assets section of the balance sheet as at Decembe 2024, with the accounts in order of decreasing liquidity (List Current Assets in order of decreasing liquidity)
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