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In alphabetical order below are current asset items for Roland Company’s balance sheet at December 31, 2017
In alphabetical order below are current asset items for Roland Company’s balance sheet at December 31, 2017.
| Accounts receivable | $206,000 | |
| Cash | 77,000 | |
| Finished goods | 84,000 | |
| Prepaid expenses | 51,000 | |
| Raw materials | 85,000 | |
| Work in process | 90,000 |
Prepare the current assets section. (List Current Assets in order of liquidity.)
Expert Solution
Solution:
Current Assets are listed below in the order of liquidity
| Roland Company | ||
| Balance Sheet | ||
| As of December 31 | ||
| Particulars | Amount ($) | Amount ($) |
| Current Assets | ||
| Cash | 77000 | |
| Account Receivable | 206000 | |
| Inventories | ||
| Finished Goods | 84000 | |
| Work In Process | 90000 | |
| Raw Material | 85000 | 259000 |
| Prepaid Expenses | 51000 | |
| Total Current Assets | 593000 |
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