Answer; As following
Terracotta Incorporated | ||
Balance sheet | ||
As on December 2, 2016 | ||
(In Million of Dollars) | ||
Assets | ||
Current Assets | ||
Cash and cash Equivalents | 1150 | |
Short term invetments | 5150 | |
Prepaid rent | 390 | |
Accounts Receivable | 1120 | |
Less: Allowances for doubtful accounts | 70 | |
Accoutns Receivable, Net of allowances | 1050 | |
Total Current Assets | 7740 | |
Non Current Assets | ||
Equipment | 8730 | |
Less: Accumulated Depreciation | 1250 | |
Equipment Net of accumulated depreciation | 7480 | |
Notes Receivable ( Long terms) | 370 | |
Other Assets | ||
Software | 1030 | |
Accumulated amortization | 620 | |
Software net of accumulated amortization | 410 | |
Total Assets | 16000 | |
Liabilities and Stocholders'equity | ||
Current liabilities | ||
Accounts payable | 960 | |
income tax payable | 70 | |
Deferred Revenue | 2140 | 2140 |
Total current liabilities | 3170 | |
Total current liabilities | ||
Long term liabilities | ||
Notes Payable (long terms) | 3870 | |
Total liabilities | 7040 | |
Shareholder'equity | ||
Common stock | 590 | |
Retained earnings | 8370 | |
Total stockholder's equity | 8960 | |
Total Liabilities and stockholders' equity | 16000 |
Saved mapter 8 Homework Assignment Terracotta Incorporated reported the following accounts and amounts (in millions) in...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016. Accounts Payable $ 960 Accounts Receivable 1,120 Accumulated Amortization 620 Accumulated Depreciation 1,250 Allowance for Doubtful Accounts 70 Cash and Cash Equivalents 1,150 Common Stock 590 Deferred Revenue 2,140 Equipment 8,730 Income Taxes Payable 70 Notes Payable (long-term) 3,870 Notes Receivable (long-term) 370 Prepaid Rent 390 Retained Earnings 8,370 Service Revenue 610 Short-Term Investments 5,150 Software 1,030 Prepare a...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016. $ Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Cash and Cash Equivalents Common Stock Deferred Revenue Equipment Income Taxes Payable Notes Payable (long-term) Notes Receivable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 830 860 490 1,120 20 1,020 460 1,980 7,430 2,570 240 260 7,070 Ooo Prepare a classified balance sheet....
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016 $ 860 920 520 1,150 Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Cash and Cash Equivalents Common Stock Deferred Revenue Equipment Income Taxes Payable Notes Payable (long-term) Notes Receivable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Tere Investments Software 1,050 490 1,950 7.730 se 2.670 270 299 7,370 4.15 Prepare a classified balance sheet....
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016. $ 890 980 550 1,180 Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Cash and Cash Equivalents Common Stock Deferred Revenue Equipment Income Taxes Payable Notes Payable (long-term) Notes Receivable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 1,080 520 1,080 8,030 3,170 300 320 7,670 540 4,450 900 Prepare a classified balance...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016. Accounts Payable $ 1,010 Accounts Receivable 1,220 Accumulated Amortization 670 Accumulated Depreciation 1,300 Allowance for Doubtful Accounts 40 Cash and Cash Equivalents 1,200 Common Stock 640 Deferred Revenue 2,300 Equipment 9,230 Income Taxes Payable 40 Notes Payable (long-term) 4,370 Notes Receivable (long-term) 420 Prepaid Rent 440 Retained Earnings 8,870 Service Revenue 660 Short-Term Investments 5,650 Software 1,080 Prepare a...
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016. Accounts Payable $ 880 Accounts Receivable 960 Accumulated Amortization 540 Accumulated Depreciation 1,170 Allowance for Doubtful Accounts 70 Cash and Cash Equivalents 1,070 Common Stock 510 Deferred Revenue 1,980 Equipment 7,930 Income Taxes Payable 70 Notes Payable (long-term) 3,070 Notes Receivable (long-term) 290 Prepaid Rent 310 Retained Earnings 7,570 Service Revenue 530 Short-Term Investments 4,350 Software 950 Prepare a...
The following is a list of account titles and amounts (in millions) reported at December 27, 2015, by Hashey, Inc. a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable $ 1,138 Equipment $ 510 Accumulated Amortization 765 Goodwill 615 Accumulated Depreciation 520 Inventories 370 Allowance for Doubtful Accounts 47 Land 9 Buildings 260 Licensing Rights 1,855 Cash and Cash Equivalents 700 Prepaid Rent 375 Required: Prepare the asset section of a classified balance...
Assume the following is a list of account titles and amounts (in millions) reported at December 31, 2017, by Hasbro, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families: Buildings and Improvements Prepaids and Other Current Assets Allowance for Doubtful Accounts Other Non-current Assets Cash and Cash Equivalents Accounts Receivable $ 191 167 36 196 610 624 Goodwill Machinery and Equipment Accumulated Depreciation Inventories Other Intangibles Land and Improvements $ 455 393 423 281...
Assume the following is a list of account titles and amounts (in millions) reported at December 31, 2017, by Hasbro, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families: Buildings and Improvements Prepaids and Other Current Assets Allowance for Doubtful Accounts Other Non-current Assets Cash and Cash Equivalents Accounts Receivable $ 191 167 36 196 610 624 Goodwill Machinery and Equipment Accumulated Depreciation Inventories Other Intangibles Land and Improvements $ 455 393 423 281...
The following is a list of account titles and amounts (in millions) reported at December 27, 2015, by Hashey, Inc. a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable $1,094 Equipment 474 Accumulated Amortization Goodwill 729 579 Accumulated Depreciation Inventories 484 334 Allowance for Doubtful Accounts 41 Land 10 Buildings Cash and Cash Equivalents Licensing Rights 224 1,871 339 664 Prepaid Rent Required: 1. Prepare the asset section of a classified balance sheet...