Question

In alphabetical order below are current asset items for Ruiz Company's balance sheet at December 31, 2015. Prepare the current assets section (including a complete heading).

Accounts receivable	$200,000
Cash	62,000
Finished goods	91,000
Prepaid expenses	38,000
Raw materials	73,000
Work in process	87,000

Answer 1

Solution:

Ruiz Company
Current Assets Section of the Balance Sheet
December. 31, 2015
Current Assets:
Cash		$          62,000
Accounts Receivables		$        200,000
Inventories:
Finished Goods	$      91,000
Work in process	$      87,000
Raw materials	$      73,000
		$        251,000
Prepaid Expenses		$          38,000
Total Current Assets		$        551,000