Homework Answers
Balance sheet (in million)
Liabilities Assets
Shareholder's fund Non current assets
Common stock 10,600 Equipment 2,800 Retained earning 2,700 Software 1,800
Current liabilities Current assets
Notes payable. 950 Investment short term 6,400
Prepaid rent 1,150
Accounts Receivable 310
Accounts payable 1,360 Cash 3,150
Balance sheet Total 15,610. $ 15,610
Notes
- Items which are not part of balance sheet and will be included in profit and loss accounts
- Income tax expense 310
- Interest expense 60
- Service revenue 5,800.
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Accounts Payable Accounts Receivable 1.360 310 3,150 10,600 2.800 310 950 Common Stock Equipment Income Tax...
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016....
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) $ 1,360 310 3,150 10,600 2,800 310 Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 950 1,150 2,700 5.800 6.400 1.800 M2-22 Part 3 3-a. Determine the current ratio. (Enter your answers in millions (le, 10,000,000 should be entered as 10).) Current Ratio...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5) [The following information applies...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5) [The following information applies to the questions displayed below.] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense nterest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 1,350 400 3,600 12,400 3,150 400 150 1,400 1,600 3,600 10,300 7,300 2,700 We...
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016....
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) 2.5 points eBook Referenc Accounts $ 1,650 Payable Accounts 450 Receivable Cash 3,850 Common Stock 13,400 Equipment 3,650 Income Tax 450 Expense Interest 200 Expense Notes Payable 1,650 (long-term) Prepaid Rent 1,850 Retained 4,100 Earnings Service 12,800 Revenue Short-Term 7,800 Investments Software 3,200 Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions (i.e.,...
Required information [The following information applies to the questions displayed below] The following accounts are taken...
Required information [The following information applies to the questions displayed below] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1,480 380 3,500 12,000 3,200 380 130 1,300 1,500 3,400 9,300 7,100 2,500 Required: 1. Prepare a classified balance sheet at September 30,...
Accounts Payable Accounts Receivable $116 27 Cash 134 Common Stock 24 Equipment Inventory Notes Payable (long-term)...
Accounts Payable Accounts Receivable $116 27 Cash 134 Common Stock 24 Equipment Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Salaries and Wages Payable 360 170 220 26 377 37 Software 60 Assume that the following events occurred in the following quarter. a. Paid $55 cash for additional inventory b. Issued additional shares of common stock for $20 in cash. c. Purchased equipment for $260; paid $125 in cash and signed a note to pay the remaining...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5 (The following information applies...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5 (The following information applies to the questions displayed below.) The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1,530 430 3.750 13,000 3,450 430 180 1,550 1,750 3,900 11,800 7,600 3,000...
$10,960 26,410 32,990 180,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Common Stock Cash Equipment...
$10,960 26,410 32,990 180,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Common Stock Cash Equipment Land Prepaid Insurance Prepaid Rent Retained Earnings Salaries Payable Supplies Unearned Fees 95,350 127,000 6,140 3,840 39,860 4,270 660 3,180 Prepare a classified balance sheet that includes the correct balance for Cash. Dynamic Weight Loss Co. Balance Sheet June 30, 2018 Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Prepaid rent Total current assets Property, plant, and equipment: Land Equipment Accumulated depreciation -...
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31,...
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31, 200 Notes payable, due June, 2021 2500 Retained earnings, Jun 30, 2018 14,090 Wages payable 2.450 What is the amount of current assets on the classified balance sheet? Multiple Choice $64,040. o $13,540. o $82170. c S32,840
Gatti Corporation reported the following balances at June 30. Accounts Payable Accounts Receivable Accumulated Depreciation Equipment...
Gatti Corporation reported the following balances at June 30. Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Cash Cash Equivalents Common Stock Deferred Revenue Depreciation Expense Dividends Equipment Notes Payable (long-tere) Notes Payable (short-term) Petty Cash Restricted Cash (short-term) Retained Earnings Salaries and Wages Expense Service Revenue Utilities Expense $ 105 95 45 15 2e 150 45 35 5 35e 110 20 25 20 50 425 530 65 Required: 1. What amount should be reported as "Cash and Cash Equivalents? 2....
6 Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2018 Retained...
6 Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,800 9,800 6,800 5,800 12,600 14,800 3,800 5,800 13,800 34,600 23,600 20,800 12,800 8,800 art 3 of 3 Required: Prepare a year-end balance sheet for Armani Company. ARMANI COMPANY Balance Sheet December 31, 2019 Liabilities Assets Total liabilities 0 Equity 0 Total equity 0 Total liabilities and...
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) $ 1,360 310 3,150 10,600 2,800 310 Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 950 1,150 2,700 5.800 6.400 1.800 M2-22 Part 3 3-a. Determine the current ratio. (Enter your answers in millions (le, 10,000,000 should be entered as 10).) Current Ratio...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5) [The following information applies to the questions displayed below.] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense nterest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software 1,350 400 3,600 12,400 3,150 400 150 1,400 1,600 3,600 10,300 7,300 2,700 We...
The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) 2.5 points eBook Referenc Accounts $ 1,650 Payable Accounts 450 Receivable Cash 3,850 Common Stock 13,400 Equipment 3,650 Income Tax 450 Expense Interest 200 Expense Notes Payable 1,650 (long-term) Prepaid Rent 1,850 Retained 4,100 Earnings Service 12,800 Revenue Short-Term 7,800 Investments Software 3,200 Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions (i.e.,...
Required information [The following information applies to the questions displayed below] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1,480 380 3,500 12,000 3,200 380 130 1,300 1,500 3,400 9,300 7,100 2,500 Required: 1. Prepare a classified balance sheet at September 30,...
Accounts Payable Accounts Receivable $116 27 Cash 134 Common Stock 24 Equipment Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Salaries and Wages Payable 360 170 220 26 377 37 Software 60 Assume that the following events occurred in the following quarter. a. Paid $55 cash for additional inventory b. Issued additional shares of common stock for $20 in cash. c. Purchased equipment for $260; paid $125 in cash and signed a note to pay the remaining...
Required information M2-22 Preparing a Classified Balance Sheet [LO 2-4, LO 2-5 (The following information applies to the questions displayed below.) The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1,530 430 3.750 13,000 3,450 430 180 1,550 1,750 3,900 11,800 7,600 3,000...
$10,960 26,410 32,990 180,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Common Stock Cash Equipment Land Prepaid Insurance Prepaid Rent Retained Earnings Salaries Payable Supplies Unearned Fees 95,350 127,000 6,140 3,840 39,860 4,270 660 3,180 Prepare a classified balance sheet that includes the correct balance for Cash. Dynamic Weight Loss Co. Balance Sheet June 30, 2018 Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Prepaid rent Total current assets Property, plant, and equipment: Land Equipment Accumulated depreciation -...
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31, 200 Notes payable, due June, 2021 2500 Retained earnings, Jun 30, 2018 14,090 Wages payable 2.450 What is the amount of current assets on the classified balance sheet? Multiple Choice $64,040. o $13,540. o $82170. c S32,840
Gatti Corporation reported the following balances at June 30. Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Cash Cash Equivalents Common Stock Deferred Revenue Depreciation Expense Dividends Equipment Notes Payable (long-tere) Notes Payable (short-term) Petty Cash Restricted Cash (short-term) Retained Earnings Salaries and Wages Expense Service Revenue Utilities Expense $ 105 95 45 15 2e 150 45 35 5 35e 110 20 25 20 50 425 530 65 Required: 1. What amount should be reported as "Cash and Cash Equivalents? 2....
6 Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,800 9,800 6,800 5,800 12,600 14,800 3,800 5,800 13,800 34,600 23,600 20,800 12,800 8,800 art 3 of 3 Required: Prepare a year-end balance sheet for Armani Company. ARMANI COMPANY Balance Sheet December 31, 2019 Liabilities Assets Total liabilities 0 Equity 0 Total equity 0 Total liabilities and...
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