What are the correct entries for the Classified Balance sheet for Festiva Holiday Decorations? 
Credit $ Debit 800,000 400,000 $ 9,000 20,000 50,000 75,000 85,000 140,000 350,000 250,000 1,000,000 Festiva's accounting staff also wants to disclose the information below to users of the firm's financial statements in the notes to the balance sheet. They have also included guidelines about their preferred formatting for the balance sheet. a) Festiva is restricting $150,000 worth of cash for the renovation of their primary production facility. The company's accountants want you to disclose this restricted cash as a separate line item on the balance sheet. This renovation is not expected to begin during the upcoming fiscal year. b) The company estimates bad debt using the percent-of-receivables method and assumes that 2.25% of all receivables will ultimately be uncollectible. c) Festiva Holiday Decorations wants to disclose the total value of inventory as a single line item on the balance sheet and then disclose the portions of this inventory balance which can be attributed to raw materials, WIP, and finished goods within the financial statement's notes. d) Festiva has a common stock investments in 50,000 shares of Addams Incorporated's $1 par common stock. Festiva has no plans to sell this investment within the upcoming fiscal year. The current market price of these shares is $20 per share. e) The company's held-to-maturity debt investment is in five-year bonds issued by Vorhees Tech which pay 3.75% interest annually. These bonds will not mature in the next year. f) Festiva depreciates all long-term plant assets using the straight-line method of depreciation. These assets have varying useful lives. g) Festiva's outstanding bonds are 10-year secured senior notes which pay 4% interest annually. The will not mature for another 7 years. h) At the time of the balance sheet's preparation, Festiva Holiday Decorations' board of directors has authorized the issuance of 500,000 shares of $1.50 par stock. The company has issued 200,000 of these shares and 190,000 of them are currently outstanding. 180,000 750,000 Account Cash Accounts Receivable Allowance for Bad Debt Supplies Notes Receivable, Short-term Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory Common Stock Investments HTM Debt Investments Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation Equipment Land Patents Copyrights Goodwill Accounts Payable Salaries and Wages Payable Interest Payable Utilities Payable Notes Payable, Long-term Bonds Payable Premium on Bonds Payable Mortgages Payable Common Stock PIC-Common Retained Earnings Treasury Stock Equity Attributable to Noncontrolling Interest Total 170,000 650,000 65,000 45,000 179,000 290,000 15,000 15,000 5,000 700,000 600,000 150,000 600,000 300,000 700,000 1,050,000 130,000 205,000 4,989,000 $ 4,989,000 $ Festiva's accounting staff also wants to disclose the information below to users of the firm's financial statements in the notes to Credit $ Debit 800,000 400,000 $ 9,000 20,000 50,000 75,000 85,000 140,000 350,000 250,000 1,000,000 Festiva's accounting staff also wants to disclose the information below to users of the firm's financial statements in the notes to the balance sheet. They have also included guidelines about their preferred formatting for the balance sheet. a) Festiva is restricting $150,000 worth of cash for the renovation of their primary production facility. The company's accountants want you to disclose this restricted cash as a separate line item on the balance sheet. This renovation is not expected to begin during the upcoming fiscal year. b) The company estimates bad debt using the percent-of-receivables method and assumes that 2.25% of all receivables will ultimately be uncollectible. c) Festiva Holiday Decorations wants to disclose the total value of inventory as a single line item on the balance sheet and then disclose the portions of this inventory balance which can be attributed to raw materials, WIP, and finished goods within the financial statement's notes. d) Festiva has a common stock investments in 50,000 shares of Addams Incorporated's $1 par common stock. Festiva has no plans to sell this investment within the upcoming fiscal year. The current market price of these shares is $20 per share. e) The company's held-to-maturity debt investment is in five-year bonds issued by Vorhees Tech which pay 3.75% interest annually. These bonds will not mature in the next year. f) Festiva depreciates all long-term plant assets using the straight-line method of depreciation. These assets have varying useful lives. g) Festiva's outstanding bonds are 10-year secured senior notes which pay 4% interest annually. The will not mature for another 7 years. h) At the time of the balance sheet's preparation, Festiva Holiday Decorations' board of directors has authorized the issuance of 500,000 shares of $1.50 par stock. The company has issued 200,000 of these shares and 190,000 of them are currently outstanding. 180,000 750,000 Account Cash Accounts Receivable Allowance for Bad Debt Supplies Notes Receivable, Short-term Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory Common Stock Investments HTM Debt Investments Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation Equipment Land Patents Copyrights Goodwill Accounts Payable Salaries and Wages Payable Interest Payable Utilities Payable Notes Payable, Long-term Bonds Payable Premium on Bonds Payable Mortgages Payable Common Stock PIC-Common Retained Earnings Treasury Stock Equity Attributable to Noncontrolling Interest Total 170,000 650,000 65,000 45,000 179,000 290,000 15,000 15,000 5,000 700,000 600,000 150,000 600,000 300,000 700,000 1,050,000 130,000 205,000 4,989,000 $ 4,989,000 $ Festiva's accounting staff also wants to disclose the information below to users of the firm's financial statements in the notes to
