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Assume that Denis Savard Inc. has the following accounts at the end of the current year.

1. Common Stock.

2. Discount on Bonds Payable.

3. Treasury Stock (at cost).

4. Notes Payable (short-term).

5. Raw Materials.

6. Preferred Stock Investments (long-term).

7. Unearned Rent Revenue.

8. Work in Process.

9. Copyrights.

10. Buildings.

11. Notes Receivable (short-term).

12. Cash.

13. Salaries and Wages Payable.

14. Accumulated Depreciation-Buildings.

15. Restricted Cash for Plant Expansion.

16. Land Held for Future Plant Site.

17. Allowance for Doubtful Accounts.

18. Retained Earnings.

19. Paid-in Capital in Excess of Par-Common Stock.

20. Unearned Subscriptions Revenue.

21. Receivables-Officers (due in one year).

22. Inventory (finished goods).

23. Accounts Receivable.

24. Bonds Payable (due in 4 years).

25. Noncontrolling Interest.

Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. Common Stock. 14. Accumulated Dep

Denis Savard Inc. Balance Sheet December 31, 20– Assets Current Assets $XXX Less : Restricted Cash XXX $XXX Accounts ReceivabRaw Materials XXX XXX Total Current Assets $XXX Long-term Investments Preferred Stock Investments XXX Land Held for Future UsTotal Assets $XXX Liabilities and Stockholders Equity Current Liabilities Salaries and Wages Payable $XXX Unearned SubscriptAdditional Paid-in Capital Common Stock Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings X


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Answer #1

The classified balance sheet will be prepared in the following manner:

ASSETS
CURRENT ASSETS
Cash
Less: Restricted Cash
Accounts Receivables
Less: Allowance for Doubtful accounts
Notes Receivables (short term)
Receivables - officers (due in 1 year)
Inventory
Raw Material
Work in Progress
Finished Goods
TOTAL CURRENT ASSETS
LONG TERM INVESTMENT
Preferred Stock Investments (long term)
Land Held for Future Plant Site
PROPERTY, PLANT & EQUIPMENT
Buildings
Less: Accumulated Depreciation - Buildings
INTANGIBLE ASSETS
Copyrights
TOTAL ASSETS
LIABILITIES
CURRENT LIABILITIES
Salaries & Wages Payable
Notes Payable (short term)
Unearned Rent Revenue
Unearned Subscription Revenue
TOTAL CURRENT LIABILITIES
LONG TERM LIABILITIES
Bonds Payable (due in 4 years)
Less: Discount on bonds payable
Non Controlling Interest
TOTAL LIABILITIES
STOCKHOLDERS' EQUITY
CAPITAL STOCK
Common Stock
Additional Paid in Capital
Paid in Capital in excess of Par - Common Stock
Total Paid in Capital
Retained Earnings
Total Paid in Capital and Retained Earnings
Less: Treasury Stock
TOTAL STOCKHOLDERS' EQUITY
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY

A classified balance sheet shows the financial position of a company on a particular date by dividing the major categories of Assets, Liabilities and Equity into multiple sub-heads.

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Answer #2

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