Question

The following is a list of account titles and amounts (in millions) reported at December 29, 2013, by Hashey, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families:

Accounts Receivable	$	1,133		Equipment	$	506
Accumulated Amortization		761		Goodwill		611
Accumulated Depreciation		516		Inventory		366
Allowance for Doubtful Accounts		43		Land		7
Buildings		256		Licensing Rights		1,851
Cash and Cash Equivalents		696		Prepaids		371

Required:

1.	Prepare the asset section of a classified balance sheet for Hashey, Inc. (Enter assets in the order of their liquidity. Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.)

Answer 1

Assets
Current assets
Cash and Cash Equivalents		$     696
Accounts Receivable	$ 1,133
Allowance for Doubtful Accounts	$     (43)
Accounts Receivable (net)		$ 1,090
Inventory		$     366
Prepaids		$     371
Total current assets			$ 2,523
Property, Plant and Equipment
Land		$          7
Buildings		$     256
Equipment		$     506
Less: Accumulated Depreciation		$   (516)
Net Property, Plant and equipment			$     253
Intangible assets
Goodwill		$     611
Licensing Rights		$ 1,851
Less: Accumulated Amortization		$   (761)
Total Intangible assets			$ 1,701
Total assets			$ 4,477

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