Question

Gatewav Gateway is a producer of personal computers. The company's balance sheet for December 31, N (slightly modified) contained the following items (S in thousands): Property and equipment, net Accrued compensation and royalties Cash & cash equivalents Non current assets Other non current liabilities Inventories Other current liabilities Other current assets Accounts payable Marketable securities Accounts receivable Intangibles, net Accrued liabilities Stockholders' equity S481,011 56,684 465,603 49,732 127,118 88,761 240,315 602,073 278,609 601,118 23,292 364,741 1,441,940 1. Prepare a December 31, N classified balance sheet for Gateway. Include the correct amount for accounts receivable.

Answer 1

Requirement, as asked:

Balance Sheet
at December 31
ASSETS
Current Assets:
Cash & Cash equivalents	$             465,603
Accounts receivables [balancing figure to balance the Balance sheet totals]	$             197,817
Inventories	$                88,761
Marketable Securities	$             601,118
Other Current Assets	$             602,073
Total Current Assets		$         1,955,372
Property, Plant & Equipment:
Non current Assets	$                49,732
Property & Equipment, net	$             481,011	$             530,743
Intangible Assets:
Intangibles, net		$               23,292
Total Assets		$         2,509,407
LIABILITIES & EQUITY
Current Liabilities:
Accounts Payable	$             278,609
Accrued Compensation & Royalities	$                56,684
Accrued Liabilities	$             364,741
Other current liabilities	$             240,315
Total Current Liabilities		$             940,349
Non Current Liabilities - Long Term:
Other non current Liabilities		$             127,118
Total Liabilities		$         1,067,467
Stockholder's Equity		$         1,441,940
Total Liabilities & Stockholder's Equity		$         2,509,407