On the basis of the following data related to assets due within one year for Webb Co., prepare a partial balance sheet in good form at December 31. Show total current assets. Cash $ 96 , 000 Notes receivable 50 , 000 Accounts receivable 275 , 000 All owance for doubtful accounts 40 , 000 Interest receivable 1 , 000 \begin{array} { l r } ext { Cash } & \$ 96,000 \ ext { Notes receivable } & 50,000 \ ext { Accounts receivable } & 275,000 \ ext { All owance for doubtful accounts } & 40,000 \ ext { Interest receivable } & 1,000\end{array} Cash Notes receivable Accounts receivable All owance for doubtful accounts Interest receivable $96 , 000 50 , 000 275 , 000 40 , 000 1 , 000

Question

On the basis of the following data related to assets due within one year for Webb Co., prepare a partial balance sheet in good form at December 31. Show total current assets.    Cash  $ 96 , 000  Notes receivable  50 , 000  Accounts receivable  275 , 000  All owance for doubtful accounts  40 , 000  Interest receivable  1 , 000 \begin{array} { l r } 	ext { Cash }  &  \$ 96,000 \	ext { Notes receivable }  &  50,000 \	ext { Accounts receivable }  &  275,000 \	ext { All owance for doubtful accounts }  &  40,000 \	ext { Interest receivable }  &  1,000\end{array}  Cash   Notes receivable   Accounts receivable   All owance for doubtful accounts   Interest receivable  ​ $96 , 000 50 , 000 275 , 000 40 , 000 1 , 000 ​

Ernie Huerta · Accepted Answer

Final Answer :  ?   W e b b   C o . B a l a n c e   S h e e t D e c e m b e r   31 A s s e t s  Current Assets:   Cash  $ 96 , 000  Notes receivable  50 , 000  Accounts receivable  275 , 000  Less allowance for doubtful accounts  40 , 000 ‾ 235 , 000  Interest receivable  1 , 000  Total current assets  $ 382 , 000 ‾ Webb~ Co.\Balance ~Sheet\December~ 31\Assets\\begin{array}{|l|r|r|}\hline 	ext { Current Assets: }  &   &  \\hline 	ext { Cash }  &   &  \$ 96,000 \\hline 	ext { Notes receivable }  &   &  50,000 \\hline 	ext { Accounts receivable }  &  275,000  &  \\hline 	ext { Less allowance for doubtful accounts }  &  \underline{40,000}  &  235,000 \\hline 	ext { Interest receivable }  &   &  1,000 \\hline 	ext { Total current assets }  &   &  \underline{\$382,000} \\hline\end{array} W e bb   C o . B a l an ce   S h ee t Dece mb er   31 A sse t s  Current Assets:   Cash   Notes receivable   Accounts receivable   Less allowance for doubtful accounts   Interest receivable   Total current assets  ​ 275 , 000 40 , 000 ​ ​ $96 , 000 50 , 000 235 , 000 1 , 000 $382 , 000 ​ ​ ​

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