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ent Practice Exercise 1 Suppose the following items were taken from the December 31, 2017, assets section of the Sunland Company balance sheet. (All dollars

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ent Practice Exercise 1 Suppose the following items were taken from the December 31, 2017, assets section of the Sunland Company balance sheet. (All dollars are in millions.) Inventory Notes receivable-due after December 31, 2018 Notes receivable-due before December 31, 2018 Accumulated depreciation-buildings $15,730 Patents $11,890 20,670 8,100 5,610 1,610 4,830 Buildings Cash 355 12,490 Accounts receivable Debt investments (short-term) Prepare the assets section of a classified balance sheet. (List the current assets in order of liquidity.) Sunland Company Partial Balance Sheet r 31, 2017 (in millions) Assets Current Assets 8100 Cash Debt investments 5610 Accounts Receivable 15730 I 2009-2018ionnwilerssons. Ine All Rights Reserved. A Division of lohn wilerasanaine. vac.policy

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