Question

Currently stuck on preparing a classified balance sheet

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 f 3 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 1,950 ok 4,1e0 14.480 4,150 25e 1,988 2,100 4,600 15,3e0 8,388 3,700 < Prev 11 12 13 | of 16 Next >

Answer 1

	BALANCE SHEET
	in $ million
	Current Assets:		Current Liabilities
a	Cash	$4,100	Accounts Payable	$1,950	j
b	Accounts Receivable	$500	Total Current Liabilities	$1,950	k
c	Prepaid Rent	$2,100
d	Short term investments	$8,300
e=a+b+c+d	Total Current Assets	$15,000	Long term Liabilities:
	Non current Assets		Notes payable- Long Term	$1,900	l
f	Equipment	$4,150	Total Long term Liabilities	$1,900	m
g	Software	$3,700
h=f+g	Total Non current Assets	$7,850	Total Liabilities	$3,850	n=k+m
			Stockhoders' Equity
			Common Stock	$14,400	p
			Retained Earnings	$4,600	q
			Total Stockholders' Equity	$19,000	r=p+q
i=e+h	TOTAL ASSETS	$22,850	Total Liabilities & Stockholders' Equity	$22,850	s=n+r