E8-1 Preparing a Classified Balance Sheet LO8-1 The following is a list of accou

Question

E8-1 Preparing a Classified Balance Sheet LO8-1 The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Hasbro, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families: $234 Goodwill Buildings and improvements Prepaid expenses and other current assets Allowance for doubtful accounts Other noncurrent assets Accumulated amortzation (other intangibles) Cash and cash equivalents $593 504 509 340 1,123 392 Machinery, equipment, and software 16 Accumulated depreciation 658 Inventories 798 Other intangibles 893 Land and improvements Accounts receivable 1,111 Required: Prepare the asset section of the balance sheet for Hasbro, 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.)

Explanation / Answer

Solution:-

Assets Current Asset: Inventory 340 A/c Receivable (Net) (1111-16) 1095 Prepaid exp 392 cash 893 Total current asset 2720 Propert Plant Equipment: Building 234 Land 7 Macinery 504 Accumulated Dep (509) Propert Plant Equipment total 236 Other Assets: Goodwill 593 Other Intangible 1123 Other non current 658 Accumulated ammortisation (798) Total 1576

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