The following is a list of account titles and amounts $($in thousands$)$ as reported at June $30,2020,$ by Darians Dirt Bikes, Inc., a retail distributor of motorcycles: 

 

Buildings and Improvements $ $304$  Goodwill $ $91$   

 

Prepaids and Other Current Assets $132$  Machinery and Equipment $658$   

 

Allowance for Doubtful Accounts $27$  Accumulated Depreciation $433$   

 

Other Non$-$current Assets $42$  Inventories $752$   

 

Cash and Cash Equivalents $71$  Other Intangibles $112$   

 

Accounts Receivable $342$  Land and Improvements $35$   

 

 

Required:

 

$1.$ Prepare the asset section of a classified balance sheet for Darians Dirt Bikes, Inc. using ASPE. $($Enter all amounts in thousands of dollars. Amounts to be deducted should be indicated by a minus sign.$)$

Answer rating: 100% (QA)

To prepare the asset section of the classified balance sheet for Darians Dirt Bikes Inc using ASPE A... View the full answer