Carlton Soup Company is the world's leading maker and marketer of soup and sells other well-known brands of food in 160 countries. Presented here are the items listed on a simplified version of its recent balance sheet (dollars in millions) presented in alphabetical order Accounts payable Accounts receivable Accrued expenses Cash and cash equivalents: Common stock, se.0375 par value Intangible assets Inventories $ 657 Other assets 595 Other current assets 617 Other current debt 300 Other noncurrent liabilities 386 Property, plant, and equipment, net 3,063 Retained earnings 1,010 Required: Prepare a classified consolidated balance sheet for Carlton Soup for the current year (ended July 31) Note: Enter your answers in millions (l.c. 10,000,000 should be entered as 10). $ 135 60 1,115 3,749 2,277 916
Carlton Soup Company is the world's leading maker and marketer of soup and sells other well-known brands of food in 160 countries. Presented here are the items listed on a simplified version of its recent balance sheet (dollars in millions) presented in alphabetical order Accounts payable Accounts receivable Accrued expenses Cash and cash equivalents: Common stock, se.0375 par value Intangible assets Inventories $ 657 Other assets 595 Other current assets 617 Other current debt 300 Other noncurrent liabilities 386 Property, plant, and equipment, net 3,063 Retained earnings 1,010 Required: Prepare a classified consolidated balance sheet for Carlton Soup for the current year (ended July 31) Note: Enter your answers in millions (l.c. 10,000,000 should be entered as 10). $ 135 60 1,115 3,749 2,277 916
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Required:
Prepare a classified consolidated balance sheet for Carlton Soup for the current year (ended July 31).
Note: Enter your answers in millions (l.e., 10,000,000 should be entered as 10).
Current Assets:
Total assets
Total current assets
CARLTON SOUP COMPANY
Consolidated Balance Sheet
Current liabilities:
Liabilities and Stockholders' Equity
Total current liabilities
Total liabilities
Stockholders' Equity
(in millions)
Assets
Total stockholders' equity
Total liabilities and stockholders' equity
$
$
0
0
0
0
Transcribed Image Text:Carlton Soup Company is the world's leading maker and marketer of soup and sells other well-known brands of food in 160 countries.
Presented here are the items listed on a simplified version of its recent balance sheet (dollars in millions) presented in alphabetical
order
Accounts payable
Accounts receivable
Accrued expenses
Cash and cash equivalents:
Common stock, se.0375 par value
Intangible assets
Inventories
$ 657 Other assets
595 Other current assets
617 Other current debt
300 Other noncurrent liabilities
386 Property, plant, and equipment, net
3,063 Retained earnings
1,010
Required:
Prepare a classified consolidated balance sheet for Carlton Soup for the current year (ended July 31).
Note: Enter your answers in millions (l.e., 10,000,000 should be entered es 10).
$ 135
60
1,115
3,749
2,277
916
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