Question

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, 2022. Prepaid insurance $ 137,700 Buildings $4,039,300 Land 77,600 Cash 354,300 Goodwill 3,985,900 Accounts receivable 1,234,000 Trademarks 789,300 Accumulated depreciation—buildings 2,193,000 Inventory 1,223,400 Prepare the assets section of a classified balance sheet. (List Current Assets in order of liquidity.) H. J. HEINZ COMPANY Partial Balance Sheet

Answer 1

Answer:

Explanation:

The classified balance sheet comprises of the assets, liabilities, and stockholder equity.  With the help of the accounting equation, the total assets are equal to the total liabilities including stockholder's equity.

The assets are further divided into current assets, fixed assets, and intangible assets. Similarly, the liabilities are also further divided but they do not have any intangible liabilities.

The preparation of the partial balance sheet is presented in the spreadsheet. Kindly find the attachment below: