Question
Suppose the following items were taken from the 2017 financial statements of Blossom Company .(All dollars are in millions.) Common stock $3,100 Accumulated depreciationequipment $3,730
Suppose the following items were taken from the 2017 financial statements of Blossom Company.(All dollars are in millions.)
| Common stock | $3,100 | Accumulated depreciationequipment | $3,730 | |||
| Prepaid rent | 150 | Accounts payable | 1,680 | |||
| Equipment | 6,400 | Patents | 2,440 | |||
| Stock investments (long-term) | 640 | Notes payable (long-term) | 790 | |||
| Debt investments (short-term) | 1,800 | Retained earnings | 6,060 | |||
| Income taxes payable | 170 | Accounts receivable | 1,800 | |||
| Cash | 1,190 | Inventory | 1,110 |
Prepare a classified balance sheet in good form as of December 31, 2017. (List current assets in order of liquidity.)
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Auditing And Assurance Services
Authors: David Ricchiute
5th Edition
0538869526, 978-0538869522
