Explore BrainMass

Explore BrainMass

    Preparation of a Classified Balance Sheet

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Assume that Denis Savard Inc. has the following
    accounts at the end of the current year.
    1. Common Stock. 14. Accumulated Depreciation-Buildings.
    2. Discount on Bonds Payable. 15. Cash Restricted for Plant Expansion.
    3. Treasury Stock (at cost). 16. Land Held for Future Plant Site.
    4. Note Payable, short-term. 17. Allowance for Doubtful Accounts-
    5. Raw Materials. Accounts Receivable.
    6. Preferred Stock Investments-Long-term. 18. Retained Earnings.
    7. Unearned Rent Revenue. 19. Premium on Common Stock.
    8. Work in Process. 20. Unearned Subscriptions Revenue.
    9. Copyrights. 21. Receivables-Officers (due in one year).
    10. Buildings. 22. Finished Goods.
    11. Notes Receivable (short-term). 23. Accounts Receivable.
    12. Cash. 24. Bonds Payable (due in 4 years).
    13. Accrued Salaries Payable.
    Instructions
    Prepare a classified balance sheet in good form. (No monetary amounts are necessary.)

    © BrainMass Inc. brainmass.com June 4, 2020, 12:01 am ad1c9bdddf
    https://brainmass.com/business/financial-statements/preparation-of-a-classified-balance-sheet-314749

    Attachments

    Solution Preview

    Preparation of a Classified Balance Sheet
    Assume that Denis Savard Inc. has the following
    accounts at the end of the current year.
    1. Common Stock. 14. Accumulated Depreciation-Buildings.
    2. Discount on Bonds Payable. 15. Cash Restricted for ...

    Solution Summary

    Response helps in Preparation of a Classified Balance Sheet.

    $2.19

    ADVERTISEMENT