Homework Answers
Solution:
Correct amount of Notes Payable is B. $437,800
Explanation:
Total Liabilities = Total Liabilities & Stockholders' Equity - Total Stockholders' Equity
Total Liabilities = $3,347,700 - $1,470,700
Total Liabilities = $1,877,000
Notes Payable = Total Liabilities - Accounts Payable
Notes Payable = $1,877,000 - $1,439,200
Notes Payable = $437,800
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(dollars in millions)
ASSETS
Current assets:
Cash
$
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Short-term investments
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Accounts receivable
17,718
Inventories
2,138
Other current assets
24,186
Total current assets
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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
$
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Accrued expenses
18,717
Unearned revenue
8,617
Short-term notes payable
6,398
Total current liabilities
64,357
Long-term debt
29,404
Other noncurrent liabilities...
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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
20,915
Other noncurrent assets
12,702
Total assets
$
235,112
LIABILITIES AND STOCKHOLDERS’ EQUITY
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
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