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Exercise 5-4 Your answer is partially correct. Try again. Assume that Denis Savard Inc. has the following accounts at the end of the current year.

Exercise 5-4

Your answer is partially correct. Try again.

Assume that Denis Savard Inc. has the following accounts at the end of the current year.

1.

Common Stock.

14. Accumulated Depreciation-Buildings.
2.

Discount on Bonds Payable.

15. Restricted Cash for Plant Expansion.
3.

Treasury Stock (at cost).

16. Land Held for Future Plant Site.
4.

Notes Payable (short-term).

17. Allowance for Doubtful Accounts.
5.

Raw Materials.

18. Retained Earnings.
6.

Preferred Stock Investments (long-term).

19. Paid-in Capital in Excess of Par-Common Stock.
7.

Unearned Rent Revenue.

20. Unearned Subscriptions Revenue.
8.

Work in Process.

21. Receivables-Officers (due in one year).
9.

Copyrights.

22. Inventory (finished goods).
10.

Buildings.

23. Accounts Receivable.
11.

Notes Receivable (short-term).

24. Bonds Payable (due in 4 years).
12.

Cash.

25. Noncontrolling Interest.
13.

Salaries and Wages Payable.

Prepare a classified balance sheet in good form. (List Current Assets in order of liquidity. For Land, Treasury Stock, Notes Payable, Preferred Stock Investments, Notes Receivable, Receivables-Officers, Inventory, Bonds Payable, and Restricted Cash, enter the account name only and do not provide the descriptive information provided in the question.)

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