Question

Do It! Review 2-1a

Nash's Trading Post, LLC has collected the following information related to its December 31, 2017, balance sheet.

Accounts receivable		$14,000		Equipment		$170,000
Accumulated depreciation—equipment		45,000		Inventory		58,000
Cash		6,000		Supplies		5,000

Prepare the assets section of Nash's Trading Post, LLC’s balance sheet. (List current assets in order of liquidity.)

Nash's Trading Post, LLC Balance Sheet (partial) For the Quarter Ended December 31, 2017December 31, 2017For the Year Ended December 31, 2017
Assets
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
			$
Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Total Stockholders' Equity					$
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
Add    Less     :
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$

Answer 1

Answer:

Nash's Trading Post, LLC
Balance Sheet (partial)
For the Year Ended December 31,2017
Assets
Current assets:
Cash	$6,000
Accounts receivable	$14,000
Inventory	$58,000
Supplies	$5,000
Total current assets		$83,000
Property,plant, equipment:
Equipment	$170,000
Accumulated depreciation-Equipment	($45,000)
Total Property,plant, equipment		$125,000
Total assets		$208,000