Prepare the current assets section of the balance sheet for Splish Brothers Inc.

ID: 2568114 • Letter: P

Question

Prepare the current assets section of the balance sheet for Splish Brothers Inc., assuming that in addition to the receivables it has cash of $85,580, merchandise inventory of $191,840, and supplies of $13,680. (List current assets in order of liquidity)

Splish Brothers Inc.
Balance Sheet (partial)

For the Quarter Ended December 31, 2017December 31, 2017For the Year Ended December 31, 2017

Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity

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Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity

Explanation / Answer

Current Assets

Cash

85580

Accounts Receivable

AAAA

Less: Allowance for doubtful Accounts

(BBBB)

CCCC

Merchandise Inventory

191840

Supplies

13680