【正文】 Gamble Company 579 APPENDIX 5B Specimen Financial Statements: The Procter amp。 Unearned Revenue $41,000。 Franchises $47,000。 E 2 , 1 7 0 , 3 8 6 I n t a n g i b l e sG o o d w i l l 2 , 0 0 0 , 0 0 0 P a t e n t s 1 7 7 , 0 0 0 T r a d e m a r k 4 0 , 0 0 0 F r a n c h i s e s 1 2 5 , 0 0 0 C o p y r i g h t 5 5 , 0 0 0 T o t a l i n t a n g i b l e s 2 , 3 9 7 , 0 0 0 O t h e r a s s e t sP r e p a i d p e n s i o n c o s t s 1 3 3 , 0 0 0 D e f e r r e d i n c o m e t a x 4 0 , 0 0 0 T o t a l o t h e r 1 7 3 , 0 0 0 T o t a l A s s e t s 9 , 2 1 0 , 9 7 8$ Balance Sheet – ―Noncurrent Assets‖ B a l a n c e S h e e t ( i n t h o u s a n d s )C u r r e n t a s s e t sC a s h 2 8 5 , 0 0 0$ Intangibles Lack physical substance and are not financial instruments. ? Limited life intangibles amortized. ? Indefinitelife intangibles tested for impairment. LO 2 533 Intangibles (BE56): Patrick Corporation adjusted trial balance contained the following asset accounts at December 31, 2020: Prepaid Rent $12,000。 e q u i t yLO 2 Identify the major classifications of the balance sheet. Classification in the Balance Sheet 540 LongTerm Liabilities (BE59): Included in Adams Company’s December 31, 2020, trial balance are the following accounts: Accounts Payable $220,000。 Gamble Company 576 APPENDIX 5B Specimen Financial Statements: The Procter amp。 Gamble Company 582 RELEVANT FACTS ? IFRS remends but does not require the use of the title “statement of financial position” rather than balance sheet. ? IFRS requires a classified statement of financial position except in very limited situations. IFRS follows the same guidelines。 Interest Payable $12,000。 E 2 , 1 7 0 , 3 8 6 I n t a n g i b l e sG o o d w i l l 2 , 0 0 0 , 0 0 0 P a t e n t s 1 7 7 , 0 0 0 T r a d e m a r k 4 0 , 0 0 0 F r a n c h i s e s 1 2 5 , 0 0 0 C o p y r i g h t 5 5 , 0 0 0 T o t a l i n t a n g i b l e s 2 , 3 9 7 , 0 0 0 O t h e r a s s e t sP r e p a i d p e n s i o n c o s t s 1 3 3 , 0 0 0 D e f e r r e d i n c o m e t a x 4 0 , 0 0 0 T o t a l o t h e r 1 7 3 , 0 0 0 T o t a l A s s e t s 9 , 2 1 0 , 9 7 8$ Balance Sheet – ―Noncurrent Assets‖ B a l a n c e S h e e t ( i n t h o u s a n d s )C u r r e n t a s s e t sC a s h 2 8 5 , 0 0 0$ Other Assets This section should include only unusual items sufficiently different from assets in the other categories. LO 2 537 “Obligations that a pany reasonably expects to liquidate either through the use of current assets or the creation of other current liabilities.” Classification in the Balance Sheet Current Liabilities B a l a n c e S h e e t ( i n t h o u s a n d s )C u r r e n t l i a b i l i t i e sN o t e s p a y a b l e 2 3 3 , 4 5 0$ A c c o u n t s p a y a b l e 1 3 1 , 8 0 0 A c c r u e d c o m p e n s a t i o n 4 3 , 0 0 0 U n e a r n e d r e v e n u e 1 7 , 0 0 0 I n c o m e t a x p a y a b l e 2 3 , 4 0 0 C u r r e n t m a t u r i t i e s L T d e b t 1 2 1 , 0 0 0 T o t a l c u r r e n t l i a b i l i t i e s 5 6 9 , 6 5 0 L o n g t e r m l i a b i l i t i e sL o n g t e r m d e b t 9 7 9 , 5 0 0 O b l i g a t i o n s c a p i t a l l e a s e 3 4 5 , 8 0 0 D e f e r r e d i n c o m e t a x e s 7 7 , 9 0 9 T o t a l l o n g t e r m l i a b i l i t i e s 1 , 4 0 3 , 2 0 9 S t o c k h o l d e r s 39。51 Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting 52 Intermediate Accounting 14th Edition 5 Balance Sheet and Statement of Cash Flows Kieso, Weygandt, and Warfield 53 1. Explain the uses and limitations of a balance sheet. 2. Identify the major classifications of the balance sheet. 3. Prepare a classified balance sheet using the report and account formats. 4. Indicate the purpose of the statement of cash flows. 5. Identify the content of the statement of cash flows. 6. Prepare a statement of cash flows. 7. Understand the usefulness of the statement of cash flows. 8. Determine which balance sheet information requires supplemental disclosure. 9. Describe the major disclosure techniques for the balance sheet. Learning Objectives 54 Balance Sheet Additional Information Usefulness Limitations Classification Supplemental disclosures Techniques of disclosure Balance Sheet and Statement of Cash Flows Statement of Cash Flows Purpose Content and format Preparation Usefulness 55 Balance Sheet, also referred to as the statement of financial position: 1. Reports assets, liabilities, and equity at a specific date. 2. Provides information about resources, obligations to creditors, and equity in resources. 3. Helps in predicting amounts, timing, and uncertainty of future cash flows. Balance Sheet LO 1 Explain the uses and limitations of a balance sheet. 56 ? Computing rates of return. ? Evaluating the capital structure. ? Assess risk and future cash flows. ? Analyze the pany’s: ? Liquidity, ? Solvency, and ? Financial flexibility. Balance Sheet Usefulness of the Balance Sheet LO 1 Explain the uses and limitations of a balance sheet. 57 ? Most assets and liabilities are reported at historical cost. ? Use of judgments and estimates. ? Many items of financial value are omitted. Limitations of the Balance Sheet Balance Sheet LO 1 Explain the uses and limitations of a balance sheet. 58 Classification LO 2 Identify the major classifications of the balance sheet. Balance Sheet 59 Illustration 51 In practice you usually see little departure from these major subdivisions. Bala