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ter 2 (Part i Assignment 3. Alex's Interiors, Inc. is an international manufacturer and retaler of home furnishings The following is from Alex's balance sheet
ter 2 (Part i Assignment 3. Alex's Interiors, Inc. is an international manufacturer and retaler of home furnishings The following is from Alex's balance sheet as of September 30, 2020 (dollars are in millions) Cash Accounts Receivable Inventories Other Current Assets $98.00 Accounts Payable $35.00 215.00 21.00 Mages and Other Expenses Fayable Notes Payable, (long-tere) 138.00 230.00 35.00 Other Long-Tere Liabiliti $3,00 Property, Plant, and Equipment 391.00 Contributed Capital 392.00 Other Assets 117.00 Retained Earnings 25.00 Assume that the following events occurred in the quarter ended December 31 (amounts provided are in whole dollars) a Paid $6.500.000 cash for an additional other asset o Issued additional shares for $6.500.000 in cash. c d Said, at cost, other assets for $1,450,000 cash Purchased property, plant, and equipment, peid $6,500,000 in cash and signed a note to pay the remaining $18.000.000 in two years e Conducted negotiations to purchase a sawmit, which is expected to cost $45,000,000 Required: 1. Analyze transactions (a through (es to determine their effects on the accounting equation (Enter any decreases to account balances with a minus sign. Enter your answers in millions, rounded to two decimal places.) 3.37 aces 5. Prepare a classified balance sheet at December 31, 2020 (Enter your answers in millions, rounded to two decimal places.) Assets Current assets Cash Alex's INTERIORS, INC. Accounts receivable Inventories Balance Sheet At December 31, 2020 (in millions of dollars) Other current assets Total current assets Property, plant, and equipment Other assets 0.00 Total assets $ 0.00 Liabilities Current liabilities Accounts payable Wages and other expenses payable 0.00 Total current liabilities Notes Payable, (long-term) Other long-term liabilities Other assets Total liabilities Shareholders' equity 0.00 Total shareholders' equity 0.00 Total liabilities and shareholders' equity $ 0.00
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