1
answer
0
watching
488
views
28 Sep 2019
Terracotta, Inc. reported the following accounts and amounts (inmillions) in its financial statements for the year ended November30, 2013.
Accounts Payable $ 730 Accounts Receivable 630 Accumulated Amortization 460 Accumulated Depreciation 800 Allowance for Doubtful Accounts 20 Cash and Cash Equivalents 840 Equipment 5,055 Income Taxes Payable 20 Notes Payable (long-term) 1,600 Notes Payable (short-term) 20 Notes Receivable (long-term) 220 Prepaid Rent 280 Retained Earnings 7,030 Service Revenue 460 Short-term Investments 2,440 Software 615 Unearned Revenue 790
Prepare the current assets section of its balance sheet. TheAllowance for Doubtful Accounts relates entirely to AccountsReceivable.
TERRACOTTA, INC. Partial Balance Sheet As of November 30, 2013 (in millions of dollars) Assets CurrentAssets: Cash and CashEquivalents Short-termInvestments AccountsReceivable Allowance forDoubtful Accounts AccountsReceivable, net of Allowance Prepaid Rent Total CurrentAssets
Terracotta, Inc. reported the following accounts and amounts (inmillions) in its financial statements for the year ended November30, 2013. |
Accounts Payable | $ | 730 | |
Accounts Receivable | 630 | ||
Accumulated Amortization | 460 | ||
Accumulated Depreciation | 800 | ||
Allowance for Doubtful Accounts | 20 | ||
Cash and Cash Equivalents | 840 | ||
Equipment | 5,055 | ||
Income Taxes Payable | 20 | ||
Notes Payable (long-term) | 1,600 | ||
Notes Payable (short-term) | 20 | ||
Notes Receivable (long-term) | 220 | ||
Prepaid Rent | 280 | ||
Retained Earnings | 7,030 | ||
Service Revenue | 460 | ||
Short-term Investments | 2,440 | ||
Software | 615 | ||
Unearned Revenue | 790 |
Prepare the current assets section of its balance sheet. TheAllowance for Doubtful Accounts relates entirely to AccountsReceivable.
TERRACOTTA, INC. | ||
Partial Balance Sheet | ||
As of November 30, 2013 | ||
(in millions of dollars) | ||
Assets | ||
CurrentAssets: | ||
Cash and CashEquivalents | ||
Short-termInvestments | ||
AccountsReceivable | ||
Allowance forDoubtful Accounts | ||
AccountsReceivable, net of Allowance | ||
Prepaid Rent | ||
Total CurrentAssets |
Bunny GreenfelderLv2
28 Sep 2019