Shake Shack Incorporated, which began as a hot dog stand in 2001, now has more than...

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Shake Shack Incorporated, which began as a hot dog stand in 2001, now has more than 200 locations worldwide. The following is adapted from Shake Shack's financial statements for the quarter ended September 26, 2019. Dollars are reported in millions. Accounts Payable Accounts Receivable Cash Common Stock Equipment Intangible Assets Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments $38 14 29 255 544 267 2 519 40 6 46 36 Required: Assume that the following events occurred in the following quarter, which ended September 30, 2019. a. Paid $10 cash for additional intangible assets. b. Issued additional shares of common stock for $50 in cash. c. Purchased equipment; paid $30 in cash and signed additional long-term loans for $70. d. Paid $9 cash for accounts payable owed at September 26. e. Conducted negotiations to purchase a farm, which is expected to cost $15. Complete this question by entering your answers in the tabs below. Requirement Current Assets Cash Prepare a classified balance sheet at September 30, 2019. Use the dropdowns to select the accounts properly included on the balance sheet. General Journal Accounts Receivable Inventory Short-term Investments Prepaid Rent Equipment Total Current Assets Total Assets Current Liabilities SHAKE SHACK INCORPORATED Balance Sheet At September 30, 2019 Assets General Ledger Accounts Payable Total Current Liabilities Trial Balance Balance Sheet Current Ratio Liabilities 4 44 4 4 69 FA $ FA 30 14 26 36 6 0 88 644 0 0 732 29 0 0 29 Shake Shack Incorporated, which began as a hot dog stand in 2001, now has more than 200 locations worldwide. The following is adapted from Shake Shack's financial statements for the quarter ended September 26, 2019. Dollars are reported in millions. Accounts Payable Accounts Receivable Cash Common Stock Equipment Intangible Assets Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments $38 14 29 255 544 267 2 519 40 6 46 36 Required: Assume that the following events occurred in the following quarter, which ended September 30, 2019. a. Paid $10 cash for additional intangible assets. b. Issued additional shares of common stock for $50 in cash. c. Purchased equipment; paid $30 in cash and signed additional long-term loans for $70. d. Paid $9 cash for accounts payable owed at September 26. e. Conducted negotiations to purchase a farm, which is expected to cost $15. Complete this question by entering your answers in the tabs below. Requirement Current Assets Cash Prepare a classified balance sheet at September 30, 2019. Use the dropdowns to select the accounts properly included on the balance sheet. General Journal Accounts Receivable Inventory Short-term Investments Prepaid Rent Equipment Total Current Assets Total Assets Current Liabilities SHAKE SHACK INCORPORATED Balance Sheet At September 30, 2019 Assets General Ledger Accounts Payable Total Current Liabilities Trial Balance Balance Sheet Current Ratio Liabilities 4 44 4 4 69 FA $ FA 30 14 26 36 6 0 88 644 0 0 732 29 0 0 29

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To prepare the classified balance sheet for Shake Shack Incorporated at September 30 2019 we need to categorize the accounts into different sections Assets Liabilities and Equity Assets Current Assets ... View the full answer