PROJECT ACCT 3303 Spring 2013 Background Information The 2011 balance sheet of the Blackberry Mountain Inc. is provided below: BLACKBERRY MOUNTAIN INC. BALANCE SHEET DECEMBER 31, 2011 Current Assets Cash Short-term Investments Accounts Receivable Less: Allowance for Doubtful Accounts Prepaid expenses 52,485 1,030 165,824 (1,850) 16,252 489,713 73,454 Total Current Assets Non-Current Assets Long-term Investments Investments in held-for-maturity securities Land held for future development 82,000 5,500 Property, Plant, and Equipment Land 125,000 975,800 (341,200) Less: Accumulated Depreciation Intangible Assets Capitalized Development Costs Goodwill Other Identifiable Intangible Assets 6,000 66,000 28,000 947,100 1,720,554 Total Non-Current Assets Total Assets Current Liabilities Deposit Received from Customers Provisions Related to Warranties Salary and Wages Payable Interest Payable Accounts Payable Notes Payable 4,380 12,500 5,560 20,500 197,532 80,000 320,472 Total Current Liabilities 75,000 425,000 500,000 820,472 Provisions Related to Pensions Bonds Payable Total Non-Current Liabilities Total Liabilities PROJECT ACCT 3303 Spring 2013 Background Information The 2011 balance sheet of the Blackberry Mountain Inc. is provided below: BLACKBERRY MOUNTAIN INC. BALANCE SHEET DECEMBER 31, 2011 Current Assets Cash Short-term Investments Accounts Receivable Less: Allowance for Doubtful Accounts Prepaid expenses 52,485 1,030 165,824 (1,850) 16,252 489,713 73,454 Total Current Assets Non-Current Assets Long-term Investments Investments in held-for-maturity securities Land held for future development 82,000 5,500 Property, Plant, and Equipment Land 125,000 975,800 (341,200) Less: Accumulated Depreciation Intangible Assets Capitalized Development Costs Goodwill Other Identifiable Intangible Assets 6,000 66,000 28,000 947,100 1,720,554 Total Non-Current Assets Total Assets Current Liabilities Deposit Received from Customers Provisions Related to Warranties Salary and Wages Payable Interest Payable Accounts Payable Notes Payable 4,380 12,500 5,560 20,500 197,532 80,000 320,472 Total Current Liabilities 75,000 425,000 500,000 820,472 Provisions Related to Pensions Bonds Payable Total Non-Current Liabilities Total Liabilities