Question

Ch 10A Homework Question 6 of 6 < 2.01/3 III LIST OF COURS Attempts: 2 of 3 used (a3) Prepare a classified balance sheet as of December 31, 2020(the Current Assets in order of liquidity List Property Plant and Equipment in order of Land, Equipment and Timberland) Riverbed Company Balance Sheet Assets NOSIS Les and Owner's Equity eTextbook and Media List of Accounts All of wed

Answer 1

Riverbed Company
Balance Sheet
as of December 31, 2020
Assets
Current assets:
Cash		$ 6,600
Accounts receivable	$ 5,000
Allowance for doubtful accounts	($ 900)	$ 4,100
Notes receivable		$ 2,400
Inventory		$ 6,500
Total current assests		$ 19,600
Investments:
Property,plant and equipment:
Timberland	$ 20,500
Land	$ 12,200
Equipment	$ 35,600
Accumulated depreciation-equipment	($ 9,900)
Total property,plant and equipment		$ 58,400
Intangible assets:
Patent	$ 10,600
Less: Accumulated Depletion	($ 3,500)
Total intangible assets		$ 7,100
Total assets		$ 85,100
Liabilities and Owners' Equity
Current liabilities:
Accounts payable		$ 2,000
Notes payable		$ 4,100
Total current liabilities		$ 6,100
Long-term liabilities:
Total long term liabiliies
Total liabilities		$ 6,100
Owners' equity:		$ 6,100
Capita	$ 66,500
Retained earnings	$ 12,500
Total stockholders' equity		$ 79,000
Total liabilities and Owners' equity		$ 85,100