Question

Exercise 2-04 Suppose the following information (in thousands of dollars) is available for H.J. Heinz Company--famous for ketchup and other fine food products-for the year ended April 30, 2022 Prepaid insurance $ 142,900 Buildings $4,079,300 Land 72,800 Cash 382,000 Goodwill 3,925,500 Accounts receivable 1,181,200 Trademarks 795,400 Accumulated depreciation-buildings 2,195,500 Inventory 1,241,600 Prepare the assets section of a classified balance sheet. (List Current Assets in order of liquidity.)

I'm not 100% sure about the ones I filled in but fairly sure. Any help on the remaining spots would be greatly appreciated.

Answer 1

Prepare the assets section of a classified balance sheet as follows: в с D H.J KEINZ COMPANY Partial Balance Sheet For the year Ended April 30,2022 (in thousands) Assets 6 Current assets 7 Cash $382.000 8 Accounts receivable $1,181,200 9 Inventory $1,241,600 10 Prepaid insurance $142.900 11 Total current assets $2.947.700 12 13 Property, Plant and Equipment 14 Land $72,800 15 Buildings $4,079,300 16 Less: Accumulated depreciation- buildings S2,195,500 $1,883,800 $1,956,600 17 Intangible assets 18 Goodwill $3,925,500 19 Trademark $795.400 20 Total intangible assets $4.720.900 21 Total assets $9,625,200 Calculations are shown below:

A B C D H.J KEINZ COMPANY Partial Balance Sheet For the year Ended April 30,2022 (in thousands) Assets 6 Current assets 7 Cash 382000 8 Accounts receivable 1181200 9 Inventory 1241600 10 Prepaid insurance 142900 11 Total current assets =SUM(C7:C10) 12 13 Property. Plant and Equipment 14 Land 72800 15 Buildings 4079300 16 Less: Accumulated depreciation-buildings 2195500 =B15-B16 =C14+C16 17 Intangible assets 18 Goodwill 3925500 19 Trademark 795400 20 Total intangible assets =C18+C19 21 Total assets =D11+D16+D20