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20 1s and amounts on milion t fhunodal stateoments tor te ee e een year ended No

ID: 2398844 • Letter: 2

Question

20 1s and amounts on milion t fhunodal stateoments tor te ee e een year ended November 30, s 790 Accounts Payable Accounts Receivable Accumulated Amortization 750 520 800 80 900 5,055 80 2.200 50 280 340 7,630 520 3,040 675 850 Allowance for Doubtful Acoounts Cash and Cash Equivalents Equipment Income Taxes Payable Notes Payable long-term) tsevable (long-lerm) Prepaid Rent Retained Eamings Service Revenue Short-term Investments Unearned Revenue Prepare the ourrent assets seation of its balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Receivable. (Enter your answers in millions (ie. 10,000,000 should be entered as 10).) TERRACOTTA, INC Partial Balance Sheet As of November 30, 2013 (in millions of dollars) Assets Current Assets Cash and Cash Equivalents Shert-term Inve stments Allowance for Doubtful Accounts Accounts Recelvable, net of Allowance Prepaid Rent Total Current Assets ReferenceseBook &Resources; Financial Statement O Type here to search and

Explanation / Answer

Assets

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Current Assets Cash and cash equivalents 900 Short term investments 3040 Accounts receivable 750 Allowances for doubtful debts 80 Net of Accounts receivable 870 Prepaid Rent 340 Total Current assets 5150