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Terracotta, Inc. reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013. Accounts Payable $ 730
Terracotta, Inc. reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013. |
Accounts Payable | $ | 730 | |
Accounts Receivable | 630 | ||
Accumulated Amortization | 460 | ||
Accumulated Depreciation | 800 | ||
Allowance for Doubtful Accounts | 20 | ||
Cash and Cash Equivalents | 840 | ||
Equipment | 5,055 | ||
Income Taxes Payable | 20 | ||
Notes Payable (long-term) | 1,600 | ||
Notes Payable (short-term) | 20 | ||
Notes Receivable (long-term) | 220 | ||
Prepaid Rent | 280 | ||
Retained Earnings | 7,030 | ||
Service Revenue | 460 | ||
Short-term Investments | 2,440 | ||
Software | 615 | ||
Unearned Revenue | 790 |
Prepare the current assets section of its balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Receivable.
TERRACOTTA, INC. | ||
Partial Balance Sheet | ||
As of November 30, 2013 | ||
(in millions of dollars) | ||
Assets | ||
Current Assets: | ||
Cash and Cash Equivalents | ||
Short-term Investments | ||
Accounts Receivable | ||
Allowance for Doubtful Accounts | ||
Accounts Receivable, net of Allowance | ||
Prepaid Rent | ||
Total Current Assets |
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