ch 8 fall - 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 Cash and Cash Equivalents $ 231 Accounts Receivable $ 1,329 Less: Allowance for Doubtful Accounts 83 1,246 Inventories 436 Prepaid Expenses and Other Current Assets 415 Total Current Assets 2,328 Property, Plant, and Equipment Tools, Dies and Molds 65
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Machinery and Equipment 385 Buildings and Improvements 256 Land and Improvements 20 Property, Plant, and Equipment (at cost) 726 Less: Accumulated Depreciation 295 Total Property, Plant, and Equipment (net) 431 Other Assets Goodwill 915 Other Intangibles 1,339 Less: Accumulated Amortization 250 Other Intangibles, net of Accumulated Amortization 1,089 Other Noncurrent Assets 170 Total Other Assets 2,174 Total Assets $ 4,933 E8-8 Computing Depreciation under Alternative Methods Alexa Plastics Company purchased a new stamping machine at the beginning of the
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This note was uploaded on 03/26/2008 for the course AEM 2210 taught by Professor Little,j. during the Spring '07 term at Cornell University (Engineering School).

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ch 8 fall - Chapter 8 Homework Problems E8-1 Preparing a...

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