Snyder's-Lance manufactures, markets, and distributes a variety of snack food products including pretzels, sandwich crackers, kettle chips,
Question:
Snyder's-Lance manufactures, markets, and distributes a variety of snack food products including pretzels, sandwich crackers, kettle chips, cookies, potato chips, tortilla chips, other salty snacks, sugar wafers, nuts, and restaurant-style crackers. These items are sold under trade names including Snyder's of Hanover, Lance, Cape Cod, Krunchers!, Jays, Tom's, Archway, and others. Presented here are the items listed on its recent balance sheet (dollars in millions) in alphabetical order:
Accounts payable ..................................................$ 52,930
Accounts receivable, net .......................................... 143,238
Accrued compensation ............................................ 29,248
Additional paid-in capital ......................................... 730,338
Cash and cash equivalents ....................................... 20,841
Common stock, ................................................... 67,820,798 shares
Outstanding ....................................................... 56,515
Goodwill ..........................................................,. 367,853
Inventories ......................................................... 106,261
Long-term debt .................................................... 253,939
Other assets (noncurrent) ......................................... $21,804
Other current assets ................................................ 96,983
Other intangible assets, net ....................................... 376,062
Other long-term liabilities ....................................... 219.114
Other payables and accrued
Liabilities ........................................................... 68.712
Prepaid expenses and other ....................................... 20.705
Property, plant, and equipment, net .............................. 313,043
Retained earnings .................................................. 51,738
Short-term debt .................................................... 4,256
Required:
1. Prepare a classified consolidated balance sheet for Snyder's-Lance for the current year (ended December 31) using the categories presented in the chapter.
2. Three of the items end in the term net. Explain what this term means in each case.
Intangible AssetsAn intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Step by Step Answer:
Req1 SnydersLance Consolidated Balance Sheet December 31 Current Year in millions Assets Current Ass...View the full answer
Financial Accounting
ISBN: 978-1259222139
9th edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
