Partial balance sheet data for Lawson Company at December 31, 2010, are as follows: Finished goods inventory

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Partial balance sheet data for Lawson Company at December 31, 2010, are as follows:
Finished goods inventory ....... $10,000
Prepaid insurance .......... 10,000
Accounts receivable ......... 26,000
Work in process inventory ........ 40,000
Supplies .............. $18,000
Materials inventory .......... 22,000
Cash ............... 28,000
Prepare the Current Assets section of Lawson Company’s balance sheet at December 31,
2010.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Managerial Accounting

ISBN: b010ikdqzm

10th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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