The Balance Sheet headings and the accounts and their balances for Exemplar Manufacturing are listed in alphabetical order. Exemplar Manufacturing has a fiscal year end of June 30, 2019.

Accounts Payable	$	127,450
Accounts Receivable		159,500
Accumulated Depreciation - Factory Building		271,958
Accumulated Depreciation - Factory Equipment		487,900
Accumulated Depreciation - Office Equipment		54,850
Cash		135,000
Common Stock $1 par (200,000 authorized, 50,900 issued and outstanding)		50,900
Factory Building		564,200
Factory Equipment		671,500
Finished Goods		58,600
Income Tax Payable		8,850
Land		329,500
Allowance for Doubtful Accounts		3,982
Mortgage Payable		126,500
Office Equipment		80,700
Paid-in Capital in Excess of Par Value		458,100
Prepaid Insurance		18,450
Raw Materials		48,400
Retained Earnings		509,300
Salaries and Wages Payable		13,250
Stockholders Equity		13,250
Supplies on Hand		9,990
Total Long-term Liabilities		126,500
Total Paid in Capital		509,000
Work in Process		37,200

Prepare the Current Assets section of the Balance Sheet for Exemplar Manufacturing. (Be sure to list the accounts in order of their liquidity. Input all amounts as positive values.) Current Assets

Inventories

Prepaid expenses

Selected account balances for Reed Manufacturing Company on December 31, 2019, the end of the fiscal year, are given below. Data about the beginning and ending inventories are also given. The company uses a periodic inventory system.

Accounts	Balances
Materials Purchases	$	135,000
Direct Labor		82,500
Indirect Labor		18,000
Payroll Taxes - Factory		11,500
Utilities - Factory		7,500
Repairs and Maintenance - Factory		9,500
Indirect Materials and Supplies		6,500
Depreciation - Factory Equipment		4,500
Insurance - Factory		5,500

Inventory Data	Jan. 1, 2019				Dec. 31, 2019
Finished Goods Inventory	$	40,000			$	38,000
Work in Process Inventory		27,000				29,000
Raw Materials Inventory		32,000				30,000

1. Record the adjusting entries for the inventory accounts as of December 31, 2019.

Record the transfer of beginning raw materials inventory.

Record the transfer of ending raw materials inventory.

Record the transfer of beginning work in process inventory.

Record the transfer of ending work in process inventory.

Record the transfer of beginning finished goods inventory.

Record the transfer of ending finished goods inventory.

2. Record the closing entries for the manufacturing cost accounts as of December 31, 2019.

Record the closing entries for the manufacturing cost accounts as of December 31, 2019.