CALCULATOR MESSAGE MY INSTRUCTOR | | FULLSCREEN | PRINTER VERSION BACK Exercise

Question

CALCULATOR MESSAGE MY INSTRUCTOR | | FULLSCREEN | PRINTER VERSION BACK Exercise 2-3 Suppose the following items were taken from the December 31, 2017, assets section of the Vaughn Manufacturing b sheet. (All dollars are in millions.) Inventory Notes receivable-due after December 31, 2018 Notes receivable-due before December 31, 2018 Accumulated depreciation-buildings $16,010 Patents $11,220 20,910 8,300 5,630 1,630 5,020 Buildings 365 Cash 13,340 Accounts receivable Debt investments (short-term) e the assets section of a classified balance sheet. (List the current assets in order uidity.) Vaughn Manufacturing Partial Balance Sheet Assets Current Assets 8.300 Cash 5.630 Accounts Receivable Version 4.24 Sons.Ins All Rights Reserved. A Division of /shared/ t/tes t/aglist.ur nd "asnmt2 150480 #N 10040 SAMSUNG

Explanation / Answer

Prepare classified balance sheet :

Assets Current assets Cash 8300 Account receivable 5630 Notes receivable 365 Inventory 16010 Debt investment (Short term) 1630 Total current assets 31935 Non current assets Notes receivable 5020 Building 20910 Less: Accumlated dep (13340) 7570 Patent 11220 Total non current assets 23810 TOTAL ASSETS 55745

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