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Unformatted text preview: Homework #7 Chapter 8 Homework Problems E8-1 Preparing a Classified Balance Sheet LO1 The following is a list of account titles and amounts (in millions) reported by Hasbro, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families: Buildings and Improvements $ 197 Goodwill $ 704 Prepaid Expenses and Other Current Assets 319 Machinery and Equipment 296 Allowance for Doubtful Accounts 64 Accumulated Depreciation 227 Other Noncurrent Assets 131 Inventories 335 Accumulated Amortization (other intangibles) 192 Other Intangibles 1,030 Cash and Cash Equivalents 178 Land and Improvements 15 Accounts Receivable 1,022 Tools, Dies, and Molds 50 Required: Prepare the asset section of the balance sheet for Hasbro, Inc., classifying the assets into Current Assets, Property, Plant, and Equipment (net), and Other Assets. Hasbro, Inc. Excerpts from Balance Sheet (in millions) ASSETS Current Assets Cash and Cash Equivalents $ 178 Accounts Receivable $ 1,022 Less: Allowance for Doubtful Accounts 64 958 Inventories 335 Prepaid Expenses and Other Current Assets 319 Total Current Assets 1,790 Property, Plant, and Equipment Tools, Dies and Molds 50 Machinery and Equipment 296 Buildings and Improvements 197 Land and Improvements 15 Property, Plant, and Equipment (at cost) 558 Less: Accumulated Depreciation 227 Total Property, Plant, and Equipment (net) 331 Other Assets Goodwill 704 Other Intangibles 1,030 Less: Accumulated Amortization 192 Other Intangibles, net of Accumulated Amortization 838 Other Noncurrent Assets 131 Total Other Assets 1,673 Total Assets $ 3,794 E8-8 Computing Depreciation under Alternative Methods LO3...
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- Spring '07