Question

Suppose the following information (in thousands of dollars) is available for H. J. Heinz Company—famous for...

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, 2017.

Prepaid insurance

$ 125,765

Buildings

$4,033,369

Land

76,193

Cash

373,145

Goodwill

3,982,954

Accounts receivable

1,171,797

Trademarks

757,907

Accumulated depreciation—buildings

2,131,260

Inventory

1,237,613

Instructions

Prepare the assets section of a classified balance sheet, listing the items in proper sequence and including a statement heading.

Business   Accounting   
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Answer #1

H. J. HEINZ COMPANY

Partial Balance Sheet

April 30, 2017

Assets
Current assets
Cash $373,145
Accounts receivable $1,171,797
Inventory $1,237,613
Prepaid insurance $125,765
Total current assets $2,908,320
Property, plant, and equipment
Land $76,193
Buildings $4,033,369
Less: Accumulated depreciation—Buildings $2,131,260 $1,902,109
$1,978,302
Intangible assets
Goodwill $3,982,954
Trademarks $757,907
$4,740,861
Total assets $9,627,483
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