Question

Assume that Denis Savard Inc. has the following accounts at the end of the current year.

1.		Common Stock		14.		Accumulated Depreciation-Buildings.
2.		Discount on Bonds Payable.		15.		Cash Restricted for Plant Expansion.
3.		Treasury Stock (at cost).		16.		Land Held for Future Plant Site.
4.		Notes Payable (short-term).		17.		Allowance for Doubtful Accounts.
5.		Raw Materials		18.		Retained Earnings.
6.		Preferred Stock (Equity) Investments (long-term).		19.		Paid-in Capital in Excess of Par-Common Stock.
7.		Unearned Rent Revenue.		20.		Unearned Subscriptions Revenue.
8.		Work in Process.		21.		Receivables-Officers (due in one year).
9.		Copyrights.		22.		Inventory (finished goods).
10.		Buildings.		23.		Accounts Receivable.
11.		Notes Receivable (short-term).		24.		Bonds Payable (due in 4 years).
12.		Cash.		25.		Noncontrolling Interest.
13.		Salaries and Wages Payable.

Prepare a classified balance sheet in good form. (List Current Assets in order of liquidity. For Land, Treasury Stock, Notes Payable, Preferred Stock Investments, Notes Receivable, Receivables-Officers, Inventory, Bonds Payable, and Restricted Cash, enter the account name only and do not provide the descriptive information provided in the question.)

Answer 1

Denis Sarvard Inc.
Balance Sheet
As at December 31
Assets
Current assets:
Cash	xxx
Less: Cash Restricted for Plant Expansion.	xxx	xxx
Accounts Receivable	xxx
Allowance for Doubtful Accounts.	xxx	xxx
Receivables-Officers (due in one year)		xxx
Notes Receivable (short-term)		xxx
Inventories
Finished goods	xxx
Work in Process.	xxx
Raw Materials	xxx	xxx
Total current assets			xxx
Investments:
Preferred Stock (Equity) Investments (long-term)		xxx
Land Held for Future Plant Site		xxx
Cash restricted for plant expansion		xxx
Total investments			xxx
Property,plant and equipment:
Buildings		xxx
Less; Accumulated Depreciation-Buildings		xxx	xxx
Intangible assets:
Copyrights.			xxx
Total Assets			xxx
Liabilities and Stockholders' Equity
Current liabilities:
Salaries and Wages Payable		xxx
Notes Payable (short-term)		xxx
Unearned Subscriptions Revenue		xxx
Unearned Rent Revenue		xxx
Total current liabilities			xxx
Long-term debt:
Bonds Payable (due in 4 years)		xxx
Discount on Bonds Payable		(xxx)	xxx
Total liabilities			xxx
Stockholders' equity:
Capital stock:
Common Stock	xxx
Additional paid-in capital:
Paid-in Capital in Excess of Par-Common Stock	xxx
Total paid-in capital		xxx
Retained earnings		xxx
Total paid-in capital and retained earnings		xxx
Less: Treasury stock, at cost		(xxx)
Total stockholders' equity			xxx
Total liabilities and stockholders equity			xxx