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    Homework Chapter 2

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    Trung Kiên Nguyễn
    The balance sheet shows H.J. Heinz Company's assets, liabilities, and equity as of April 30, 2014. Total assets were $9.6 billion, including $2.9 billion in current assets like cash and inventory. Property, plant, and equipment totaled $2 billion, and intangible assets like goodwill and trademarks were $4.7 billion.

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    Homework Chapter 2

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    Trung Kiên Nguyễn
    66 views3 pages
    The balance sheet shows H.J. Heinz Company's assets, liabilities, and equity as of April 30, 2014. Total assets were $9.6 billion, including $2.9 billion in current assets like cash and inventory. Property, plant, and equipment totaled $2 billion, and intangible assets like goodwill and trademarks were $4.7 billion.

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    The balance sheet shows H.J. Heinz Company's assets, liabilities, and equity as of April 30, 2014. Total assets were $9.6 billion, including $2.9 billion in current assets like cash and inventory. Property, plant, and equipment totaled $2 billion, and intangible assets like goodwill and trademarks were $4.7 billion.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    66 views3 pages

    Homework Chapter 2

    Uploaded by

    Trung Kiên Nguyễn
    The balance sheet shows H.J. Heinz Company's assets, liabilities, and equity as of April 30, 2014. Total assets were $9.6 billion, including $2.9 billion in current assets like cash and inventory. Property, plant, and equipment totaled $2 billion, and intangible assets like goodwill and trademarks were $4.7 billion.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 3

    H.J.

    Heinz Company
    Balance Sheet
    April 30, 2014
    (in thousands)

    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
    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


    Vern Corporation
    Income Statement
    For The Year Ended April 30, 2014

    Revenues
    Sales revenue $ 20,450

    Expenses
    Salaries and wages expense $ 5,840
    Depreciation expense 3,200
    Income tax expense 700
    Rent expense 660
    Interest expense 350
    Total expenses 10,750
    Net income $ 9,700

    Vern Corporation
    Retained Earnings Statement
    For The Year Ended April 30, 2014

    Retained Earnings, May 1, 2013 $ 13,960


    Plus: Net Income 9,700
    23,660
    Less: Dividends 2,800
    Retained Earnings, April 30, 2014 $ 20,860
    Vern Corporation
    Balance Sheet
    April 30, 2014

    Assets
    Current assets
    Cash $ 20,955
    Accounts receivable 10,150
    Prepaid rent 380
    Total current assets $ 31,485

    Equipment 24,250
    Less: Accumulated depreciation—
    equipment 6,600 17,650

    Total assets $ 49,135

    Liabilities and Stockholders' Equity

    Current liabilities
    Accounts payable $ 3,100
    Income taxes payable 300
    Interest payable 175
    Total current liabilities $ 3,575

    Notes payable 4,700


    Total current liabilities $ 8,275

    Stockholders' equity
    Common stock $ 20,000
    Retained earnings 20,860
    Total stockholders' equity 40,860

    Total liabilities and stockholders' equity $ 49,135

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