## Question

###### Brief Exercise 14-08 In alphabetical order below are current asset items for Roland Company's balance sheet...

Brief Exercise 14-08 In alphabetical order below are current asset items for Roland Company's balance sheet at December 31, 2020. $201,000 Accounts receivable 63,000 Cash Finished goods 80,000 Prepaid expenses 39,000 Raw materials 83,000 Work in process 88,000 Prepare the current assets section. (List Current Assets in order of liquidity.) ROLAND COMPANY Balance Sheet %$4 %24 olicy 2000-2030John

ROLAND COMPANY Balance Sheet %24

## Answers

Solution:

ROLAND COMPANY Balance sheet:

CURRENT ASSETS

Amount $Cash

63000

Account receivable

201000

Inventories

Finished goods

80000

work in process

88000

Raw material

83000

251000

Prepaid expenses

39000

Total current assets

$ 554000

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