# chapter_8 - Chapter 8 Homework Problems E8-1 Preparing a...

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Chapter 8 Homework Problems E8-1 Preparing a Classified Balance Sheet The following is a list of account titles and amounts (in millions) reported by Nobro, Inc., a leading manufacturer of knives, slingshots, and indestructible targets for children and families: Buildings and Improvements \$ 256 Goodwill \$ 915 Prepaid Expenses and Other Current Assets 415 Machinery and Equipment 385 Allowance for Doubtful Accounts 83 Accumulated Depreciation 295 Other Noncurrent Assets 170 Inventories 436 Accumulated Amortization (other intangibles) 250 Other Intangibles 1,339 Cash and Cash Equivalents 231 Land and Improvements 20 Accounts Receivable 1,329 Tools, Dies, and Molds 65 Required: Prepare the asset section of the balance sheet for Nobro, Inc., classifying the assets into Current Assets, Property, Plant, and Equipment (net), and Other Assets. Nobro, Inc. Excerpts from Balance Sheet (in millions) ASSETS Current Assets Total Current Assets Property, Plant, and Equipment

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Total Property, Plant, and Equipment (net) Other Assets Total Other Assets Total Assets E8-8 Computing Depreciation under Alternative Methods Alexa Plastics Company purchased a new stamping machine at the beginning of the year at a cost of \$300,000. The estimated residual value was \$36,000. Assume that the estimated useful life was 5 years, and the estimated productive life of the machine was
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## This homework help was uploaded on 04/21/2008 for the course AEM 2210 taught by Professor Little,j. during the Fall '07 term at Cornell University (Engineering School).

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chapter_8 - Chapter 8 Homework Problems E8-1 Preparing a...

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