The following is a list of account titles and amounts (in millions) reported at December 27, 2015, by Hashey, Inc. a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable $1,119 Equipment $496
Accumulated Amortization 751 Goodwill 601
Accumulated Depreciation 506 Inventories 356
Allowance for Doubtful Accounts 35 Land 10
Buildings 246 Licensing Rights 1,841
Cash and Cash Equivalents 686 Prepaid Rent 361

Required:
Prepare the asset section of a classified balance sheet for Hashey, Inc.

Answer and Explanation:

The preparation of the asset section of the classified balance sheet is presented below;

ASSETS    

Current assets:    

Cash and cash equivalents $686

Accounts receivable $1,119  

Less: Allowance for doubtful accounts($35)  

Accounts receivable (net) $1,084  

Inventory $356

Prepaid rent $361  

Total current assets $2,487

Property, Plant and Equipment:    

Land $10  

Buildings $246  

Equipment $496

Property, Plant and Equipment (at cost) $752

Less: Accumulated depreciation  ($506)

Total Property, Plant and Equipment (net) $246

Other assets    

Licensing rights $1,846

Goodwill  $601

Less: Accumulated amortization  ($751)  

Other assets (Net)$1,691

Total assets$4,424

107x106 is the answer