M8-13 Reporting Accounts and Notes Receivable in a Classified Balance Sheet

Adobe Systems Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013. Prepare the current assets section of its balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Receivable.

Accounts Payable $720

Accounts Receivable 610

Accumulated Amortization 450

Accumulated Depreciation 790

Allowance for Doubtful Accounts 10

Cash and Cash Equivalents 830

Equipment 4,955

Income Taxes Payable 10

Notes Payable (long-term) $1,500

Notes Payable (short-term) 15

Notes Receivable (long-term) 210

Prepaid Rent 270

Retained Earnings 6,930

Service Revenue 450

Short-term Investments 2,340

Software 605

Unearned Revenue 780

M8-13
	Reporting Accounts and Notes Receivable in a Classified Balance Sheet
			Adobe Systems, Inc.
			Partial Balance Sheet
			As of November 30, 20XX
			(in millions)
		Assets:						Amount
		Current Assets
			Cash and Cash Equivalents
			Short-term investments
			Accounts Receivable
			Allowance for Doubful Accounts
			Accounts Receivable, Net of Allowance
			Prepaid Rent
			Total Current Assets