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.		Restricted Cash 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 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.)

show work and explain, especially total liabilities and equity

Answer 1

Denis Savard Inc
Balance Sheet
December 31, 20XX
Assets
Current Assets
Cash	-
Less cash restricted for plant expansion	-	-
Accounts receivable	-
Less allowance for doubtful accounts	-	-
Notes receivable		-
Receivables - Officers		-
Inventories
Finished goods	-
Work in process	-
Raw materials	-	-
Total current assets			-
Long-term investments
Preferred stock investments		-
Land held for future plant site		-
Cash restricted for plant expansion		-
Total long-term investments			-
Property, plant, and equipment
Buildings		-
Less accumulated depreciation - Buildings		-	-
Intangible assets
Copyrights			-
Total assets			-
Liabilities and Stockholders' Equity
Current liabilities
Accrued salaries payable	-
Note payable	-
Unearned subscriptions	-
Unearned rent	-
Total current liabilities		-
Long-term debt
Bonds payable, due in four years	-
Discount on bonds payable	-	-
Total liabilities			-
Stockholders' equity
Capital stock
Common stock	-
Additional paid-in capital:
Premium on common stock	-
Total paid-in capital		-
Retained earnings		-
Total paid-in capital and retained earnings		-
Less: Treasury stock, at cost		-
Total stockholders' equity			-
Total liabilities and stockholders equity			-