Question

E8-1 (Algo) Preparing a Classified Balance Sheet L08-1 The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Calvin, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families: $ 206 162 ܩ ܩ ܘ ܩ Buildings and improvements Prepaid expenses and other current assets Allowance for doubtful accounts Other noncurrent assets Accumulated amortization (other intangibles) Cash and cash equivalents Goodwill Machinery, equipment, and software Accumulated depreciation Inventories Tools, dies, and molds Other intangibles Land and improvements Accounts receivable ܀ ܩ ܙ COON ܘ ܗ 1,376 640 Required: Prepare the asset section of the balance sheet for Calvin, Inc., classifying the assets into Current Assets, Property, Plant, and Equipment (net), and Other Assets. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated by a minus sign.) Calvin, Inc. Excerpts from Balance Sheet (in millions) Assets Current assets: Total current assets Property, plant, and equipment: Property, plant, and equipment (at cost) Property, plant, and equipment (net)

Answer 1

$634 $591 $290 $162 $1,677 Calvin, Inc. Excerpts from balance sheet in millions) Assets Current assets: Cash and cash equivalents Accounts receivable (net) (5640 - $49) Inventories Prepaid expenses and other current assets Total current assets Property, plant, and equipment: Tools, Dies, and Molds Machinery, equipment, and software Buildings and improvements Land and improvements Property, plant, and equipment (at cost) Less: Accumulated depreciation Total property, plant, and equipment (net) Other assets Goodwill Other intangibles (net of accumulated amortization) ($1,376 - $819) Other noncurrent assets Total other assets $86 $419 $206 $12 $723 $422 $301 $464 $557 $205 $1,226 Totals assets $3,204