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Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016. Accounts Payable $ 960
Terracotta Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016.
Accounts Payable | $ | 960 | |
Accounts Receivable | 1,120 | ||
Accumulated Amortization | 620 | ||
Accumulated Depreciation | 1,250 | ||
Allowance for Doubtful Accounts | 70 | ||
Cash and Cash Equivalents | 1,150 | ||
Common Stock | 590 | ||
Deferred Revenue | 2,140 | ||
Equipment | 8,730 | ||
Income Taxes Payable | 70 | ||
Notes Payable (long-term) | 3,870 | ||
Notes Receivable (long-term) | 370 | ||
Prepaid Rent | 390 | ||
Retained Earnings | 8,370 | ||
Service Revenue | 610 | ||
Short-Term Investments | 5,150 | ||
Software | 1,030 | ||
Prepare a classified balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Receivable. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
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