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
H. J. HEINZ COMPANY
Partial Balance Sheet
April 30, 2017
(in thousands)
Assets