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My Answers may not be correct. If they are incorrect please fix it. and put in the blank ones Assume that Denis Savard Inc. has
My Answers may not be correct. If they are incorrect please fix it. and put in the blank ones
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.) 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.) Denis Savard Inc. Balance Sheet December 31, 20- Assets I Current Assets Cash $XXX Less Restricted Cash XXX $XXX Accounts Receivable XXX Less Allowance for Doubtful Accounts XXX XXX Notes Receivable XXX Receivables-Officers XXX Inventory Finished Goods XXX Work-in-Process XXX Raw Materials XXX XXX Total Current Assets $XXX Raw Materials XXX XXX Total Current Assets $XXX TI Long-term Investments Preferred Stock Investments XXX Land Held for Future Use XXX Restricted Cash XXX Total Long-term Investments XXX Property, plant and Equipment Buildings XXX Less Accumulated Depreciation-Buildings XXX XXX Intangible Assets Copyrights xxx XXX Total Assets $XXX Liabilities and Stockholders' Equity Current Liabilities Salaries and Wages Payable $XXX Copyrights XXX Total Assets $XXX Liabilities and Stockholders' Equity Current Liabilities 4 Salaries and Wages Payable $XXX Unearned Subscriptions Revenue Unearned Rent Revenue XXX Unearned Service Revenue XXX Total Current Liabilities $XXX Long-term Debt Bonds Payable $XXX 7 (XXX) XXX XXX Long-term Investments Long-term Debt XXX XXX Long-term Investments Long-term Debt E XXX XXX XXX XXX Property, plant and Equipment XXX Less Accumulated Depreciation-Buildings (XXX) Total Property, Plant and Equipment XXX Copyrights XXX Total Intangible Assets XXX Total Assets $XXX Assets Current Assets Cash $XXX Less Restricted Cash XXX $XXX Accounts Receivable xxx Less 7 : Allowance for Doubtful Accounts XXX XXX Notes Receivable XXX Receivables-Officers XXX Inventory Finished Goods xxx Work-in-Process XXX Raw Materials XXX XXX Total Current Assets $XXX Long-term Investments Preferred Stock Investments XXX Land Held for Future Use XXX Restricted Cash XXX Total Long-term Investments XXX Property, Plant and Equipment Buildings XXX Less ... Accumulated Depreciation-Buildings XXX XXX Intangible Assets 7 Copyrights xxx Total Assets $XXX Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity Current Liabilities Salaries and Wages Payable $XXX Unearned Subscriptions Revenue XXX Unearned Rent Revenue XXX Unearned Service Revenue xxx Total Current Liabilities $XXX Long-term Debt Bonds Payable $XXX (XXX) XXX XXX Long-term Investments Long-term Debt xxx XXX XXX XXX Property, plant and Equipment 7 XXX Less .. Accumulated Depreciation-Buildings (XXX) Total Property, Plant and Equipment 7 XXX Copyrights XXX Total Intangible Assets XXX Total Assets $XXXStep by Step Solution
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