larry2326 larry2326

10-09-2019
Business

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A list of financial statement items for Chin Company includes the following: accounts receivable $14,000; prepaid insurance $2,600; cash $10,400; supplies $3,800; and debt investments (short-term) $8,200. Prepare the current assets section of the balance sheet listing the items in the proper sequence. (List current assets in order of liquidity.)

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andromache andromache

17-09-2019

Answer:

Explanation:

The computation of the current assets is shown below:

= Cash + Debt investment (short-term) + accounts receivable + supplies + prepaid insurance

= $10,400 + $8,200 + $14,000 + $3,800 + $2,600

= $39,000

The ranking is done based on the liquidity order

The preparation of the current asserts section is given in the attachment. Kindly find the attachment below.

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