Question

CH 8 HW Problems CH8 HW Problems a Check my work E8-1 (Algo) Preparing a Classified Balance Sheet L08-1 The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Calvin, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families 05 Buildings and improvements Prepaid expenses and other current as Allowance for doubtful accounts Other noncurrent assets Accumulated amortization (other intangibles) Cash and cash equivalents Goodwill Machinery, equipment, and software Accumulated depreciation Inventories Tools, dies, and molds Other intangibles Land and improvements Accounts receivable Required: Prepare the asset section of the balance sheet for Calvin, Inc. classifying the assets into Current Assets, Property. Plant, and Equipment net and Other Assets. (Enter your answers in millions fue., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated by a minus sign.) Prey 1 of 3 11 Next >

Answer 1

Calvin Inc. Excerpts from Balance Sheet (in millions)
ASSETS
Current Assets
Cash and cash equivalents		639
Account receivable	649
Less: Allowance for doubtful account	-51	598
Inventories		308
Prepaid expenses and other current assets		180
total current assets_______(1)		1725
Property, Plant, and Equipment
Tools, Dies and Molds		80
Machinery, Equipment and software	420
Less: Accumulated Depreciation	-413	7
Buildings and Improvements		194
Land and Improvements		10
Total Property, Plant, and Equipment (net)______(2)		291
Other Assets
Goodwill		475
Other Intangibles	1374
Less: Accumulated Amortization	-814	560
Other Intangibles, net of Accumulated Amortization		2188
Other Noncurrent Assets		204
Other Noncurrent Assets _______(3)		3427
Total Assets ________(1+2+3)		5443