Instructions: 1.Discuss individual elemnts and prepare the proper statement of classified balance sheet. 2.what would the difference beif the company was using perpetual inventory accounting system ?
D CASH FLOW STATEMENT BALANCE SHES XOX Total PPE Intangible assets Tocal intangible assets Total assets Land Land for future plant site Loss from flood Notes payable (due next year) Patent Payroll taxes payable Pension obligations Petty cash Preferred stock Premium on bonds payable Premium on preferred stock Prepaid rent Purchases Purchase returns and allowances Retained eaming Sales Sales discounts Sales salary Trading securities Treasury stock (at cost) Unearned subscriptions revenue Warranty liability Accounts receivable Accrued wages Accumulated depreciation – buildings Accumulated depreciation equipment Advances to employees Advertising expense Allowance for doubtful accounts Bond sinking fund Bonds payable Building Cash in bank Cash on hand Cash surrender value on life insurance Commission expense Common stock Copyright Dividends payable Freight-in Equipment Cash on sale of equipment Interest receivable Inventory – beginning Inventory – ending hilities and stockholders equity Cettent liabilities Total current liabilities Long-term dels SXXX XXX XXX XXX Total long-term liabilities Total liabilities Stockholders' equity 66 SXXX Company Name Balance Sheet December 31, 20xx Assets Current assets S XXX PLETTY CASH XXX CASH IN BANK CASH ON HAND XXX Less: ALLOX4NGE FOR DOUBTFOLA. XXX ACCOUNTS RECEIVABLE PRE MAIA. RENT S XXX XXX xxx Total paid-in capital XXX XXX XXX XXX XXX XXX XXX Total paid-in capital and RE XXX Xxx Total current assets Long-term investments SXXX Total stockholders' equity Total liabilities & SE SXXX XXX Exercise 5.4 Current Assets Classification XXX Total long-term investments Property, plant, and equipment SXXX Instructions: 1. Calculate the amount of the total current assets on the July 31, 2019. SXXX 140