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Unformatted text preview: Exercises: Set B 1 Exercises: Set B w w w . w i le y . c o m / c o l l e g e / k i m m e l E2-1B The following items were taken from the December 31, 2007, assets section of the Boeing Company balance sheet. (All dollars are in millions.) Inventories $ 9,563 Other current assets $ 2,341 Notes receivable—due after Property, plant, and December 31, 2008 6,777 equipment 20,180 Notes receivable—due before Cash and cash equivalents 7,042 December 31, 2008 328 Accounts receivable 5,740 Accumulated depreciation 11,915 Other noncurrent assets 11,490 Intangible assets 5,174 Short-term investments 2,266 Instructions Prepare the assets section of a classified balance sheet, listing the current assets in order of their liquidity. E2-2B The following information (in thousands of dollars) is available for H.J. Heinz Company —famous for ketchup and other fine food products—for the year ended April 30, 2008. Prepaid expenses $ 139,492 Inventories $1,378,216 Land 56,007 Buildings and equipment 4,344,269 Other current assets 28,690 Cash and cash equivalents 617,687 Intangible assets 4,411,521 Accounts receivable 1,161,481 Other noncurrent assets 723,243 Accumulated depreciation 2,295,563 Instructions Prepare the assets section of a classified balance sheet, listing the items in proper se- quence and including a statement heading. E2-3B These items are taken from the financial statements of Donovan Co. at December 31, 2010. Building $105,800 Accounts receivable 12,600 Prepaid insurance 4,680 Cash 16,840 Equipment 82,400 Land 61,200 Insurance expense 780 Depreciation expense 5,300 Interest expense 2,600 Common stock 62,000 Retained earnings (January 1, 2010) 40,000 Accumulated depreciation—building 45,600 Accounts payable 9,500 Mortgage payable 93,600 Accumulated depreciation—equipment 18,720 Interest payable 3,600 Bowling revenues 19,180 Instructions Prepare a classified balance sheet. Assume that $13,600 of the mortgage payable will be paid in 2011....
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This note was uploaded on 01/09/2011 for the course MGMT 450 taught by Professor Finn during the Spring '09 term at DeVry NJ.
- Spring '09