Homework Answers
Current Assets section of balance sheet of Travel Now:
TRAVEL NOW INC.
Balance sheet (Partial)
At September 30, 2016
| . | (in millions) |
| CURRENT ASSETS | |
| Cash & Cash Equivalents | $1500 |
| Restricted Cash (short term) | $50 |
| Short term investments | $495 |
| Accounts Receivable | $770 |
| Prepaid insurance | $255 |
| Total current assets | $3070 |
Notes:
1. Cash & Cash equivalents
| Money market funds & time deposits | $485 |
| Balance at bank | $1015 |
| Total | $1500 |
2. Current assets are those which can be liquidated and convertible into cash within one year (365 days).
3. Deferred revenue is ignored since it is an liability but not an current asset.
4. Goodwill is ignored since it is an non current asset (intaniganle asset).
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MANGO INC.
CONSOLIDATED BALANCE SHEET
September 30, 2017
(dollars in millions)
ASSETS
Current assets:
Cash
$
14,054
Short-term investments
11,401
Accounts receivable
17,718
Inventories
2,138
Other current assets
24,186
Total current assets
69,497
Long-term investments
131,998
Property, plant, and equipment, net
20,915
Other noncurrent assets
12,702
Total assets
$
235,112
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Current Liabilities:
Accounts payable
$
30,625
Accrued expenses
18,717
Unearned revenue
8,617
Short-term notes payable
6,398
Total current liabilities
64,357
Long-term debt
29,404
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CONSOLIDATED BALANCE SHEET
September 30, 2017
(dollars in millions)
ASSETS
Current assets:
Cash
$
14,054
Short-term investments
11,401
Accounts receivable
17,718
Inventories
2,138
Other current assets
24,186
Total current assets
69,497
Long-term investments
131,998
Property, plant, and equipment, net
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Other noncurrent assets
12,702
Total assets
$
235,112
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Current Liabilities:
Accounts payable
$
30,625
Accrued expenses
18,717
Unearned revenue
8,617
Short-term notes payable
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29,404
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