ACO01 - Lecture 5 - Completing the Accounting Cycle [Compatibility Mode]

36 12 classified balance sheet typical categories in

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Unformatted text preview: ssets Intangible assets Liabilities & Equity Current liabilities Noncurrent liabilities Equity 37 Current Assets/Liabilities Current items are those expected to come due (either collected or owed) within one year or the company’s operating cycle, whichever is longer. 38 Operating Cycle – Service Company Cash Available Customers pay for services Cash paid for employee work Services sold to customers 39 13 Operating Cycle – Merchandising Company Cash Available Customers pay for products Cash paid for products Products sold to customers 40 Classified Balance Sheet Let’s look at the asset section of a classified balance sheet. Consolidated Balance Sheet December 31, 2001 2002 (in thousands, except share data and per shate data) ASSETS Current assets: Cash & cash equivalents Accounts receivable, net Inventories, net Deferred taxes Other current assets Total current assets $ Property, plant and equipment, net Intangible assets, net Other assets $ 30,000 $ 125,000 96,400 12,550 14,860 278,810 42,560 152,000 83,260 14,800 9,670 302,290 195,200 26,420 25,225 525,655 $ 223,500 32,000 18,790 576,580 14 Consolidated Balance Sheet December 31, (in thousands, except share data and per shate data) ASSETS Current assets: Cash & cash equivalents Accounts receivable, net Inventories, net Deferred taxes Other current assets Total current assets Property, plant and equipment, net Intangible assets, net Other assets 2001 2002 Current assets are assets that will30,000turned...
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