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E2-4 Prepare asset section of a classified balance sheet
Suppose the following information (in thousands of dollars) is available for H. J. Heinz Company -
famous for ketchup and other fine food products - for the year ended April 30, 2017.
Prepaid insurance $125,765 Buildings $4,033,369
Land 76,193 Cash 373,145
Goodwill 3,982,954 Accounts Receivable 1,171,797
Trademarks 757,907 Accumulated depreciation -
Inventory 1,237,613 buildings 2,131,260
Instructions
Prepare the assets section of a classified balance sheet, listing the items in proper sequence
and including a statement heading.
NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .
Current assets
Cash Value
Accounts receivable Value
Inventory Value
Prepaid insurance Value ?
Total current assets
Property, plant and equipment
Land Value
Buildings Value
Less: Accumulated depreciation Value ? ?
- buildings
Intangible assets
Goodwill Value
Trademarks Value ?
Total assets ?
When you have completed E2-4, consider the following additional question.
1. Assume that accounts receivable and trademarks changed to $1,200,000 and $786,110, respectively.
How do these changes impact the asset section of the classified balance sheet?
Assets
H. J. HEINZ COMPANY
Partial Balance Sheet
April 30, 2017
(in thousands)
E2-4 Solution
Current assets
Cash $373,145
Accounts receivable 1,171,797
Inventory 1,237,613
H. J. HEINZ COMPANY
Partial Balance Sheet
April 30, 2017
(in thousands)
Assets
E2-4 Solution to additional question
1. Assume that accounts receivable and trademarks changed to $1,200,000 and $786,110 respectively.
How do these changes impact the asset section of the classified balance sheet?
Current assets
Cash $373,145
Accounts receivable 1,200,000
Inventory 1,237,613
H. J. HEINZ COMPANY
Partial Balance Sheet
April 30, 2017
(in thousands)
Assets
