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Asset section of classified balance sheet

The following information (in thousands of dollars) is available for H.J. Heinz Company - famous for ketchup and other fine food products - for the year ended April 28, 2007

Prepare the asset section of a classified balance sheet.

Prepaid expenses $165,177 Inventories $1,156,932
Land 65,836 Buildings and equipment 3,661,388
Other current assets 15,493 Cash and cash equivalents 1,180,039
Intangible assets 2,753,735 Receivables 1,093,155
Other noncurrent assets 1,455,372 Accumulated depreciation 1,669,938

Solution Preview

The asset section would be as below

Assets

Current Assets

Cash and cash equivalents 1,180,039
Receivables 1,093,155
Inventories $1,156,932
Prepaid expenses ...

Solution Summary

The solution explains how to prepare the asset section of classified balance sheet

$2.19