Balance sheet current assets balance sheet current

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Unformatted text preview: Assets” Short-Term Investments Illustration 5-5 Balance Sheet Presentation of Investments in Securities Chapter 5-12 LO 2 Identify the major classifications of the balance sheet. Balance Sheet – “Current Assets” Balance Sheet – “Current Assets” Receivables Claims held against customers and others for money, goods, or services. Accounts receivable – oral promises Notes receivable – written promises Major categories of receivables should be shown in the balance sheet or the related notes. Chapter 5-13 LO 2 Identify the major classifications of the balance sheet. Balance Sheet – “Current Assets” Balance Sheet – “Current Assets” Accounts Receivable – Presentation Options 1 1 2 2 Chapter 5-14 C u rre n t As s e ts : C as h Ac c o u n ts re c e iva b le Le s s a llo wa n c e fo r d o u b tfu l a c c o u n ts In ve n to ry T o ta l c u rre n t a s s e ts C u rre n t As s e ts : C as h Ac c o u n ts re c e iva b le , n e t o f $ 2 5 a llo wa n c e In ve n to ry T o ta l c u rre n t a s s e ts 5 0 0 2 5 $ 3 4 6 4 7 5 812 $ 1 ,6 3 3 $ 3 4 6 4 7 5 812 $ 1 ,6 3 3 LO 2 Identify the...
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