Prepare a classified balance sheet in report form. For assets, use the classific
ID: 2774424 • Letter: P
Question
Prepare a classified balance sheet in report form. For assets, use the classifications of current
assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications
of current liabilities and long-term liabilities.
Barbie Inc. Dec 31, 2013 information
Common stock, authorized 21,000 shares at $1 par
value, issued 10,000 shares $10,000
Additional paid-in capital 38,000
Cash 13,000
Marketable securities 17,000
Accounts receivable 26,000
Accounts payable 15,000
Current maturities of long-term debt 11,000
Mortgages payable 80,000
Bonds payable 70,000
Inventory 30,000
Land and buildings 57,000
Machinery and equipment 125,000
Goodwill 8,000
Patents 10,000
Other assets 50,000
Deferred income taxes (long-term liability) 18,000
Retained earnings 33,000
Accumulated depreciation 61,000
Explanation / Answer
Current Assets Current Liabilities Cash 13,000 Accounts payable 15,000 Marketable securities 17,000 Current maturities of long-term debt 11,000 Accounts receivable 26,000 Inventory 30,000 Non Current Assets Non Current Liabilities Land and buildings 57,000 Mortgages payable 80,000 Accumulated depreciation (61,000) Bonds payable 70,000 Machinery and equipment 125,000 Deferred income taxes 18,000 Goodwill 8,000 Patents 10,000 Equity Other Assets 50,000 Common Stock 10,000 Additional paid-in capital 38,000 Retained earnings 33,000 275,000 275,000