Question

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Mango Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players and sells a variety of related software and services. The following is Mango's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). $ 14,084 11,425 17,755 2,142 24,231 69,637 132, 264 20,957 12,728 $ 235,586 MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 per value) Additional paid in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $ 30,687 18,755 8,635 6,411 64,488 29,464 28,310 122,262 1 25,712 87,611 113,324 $ 235,586 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018): a. Borrowed $18,309 from banks due in two years. b. Purchased additional investments for $25,000 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,615 in cash and signed a short-term note for $1,454. d. Issued additional shares of common stock for $1,513 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,050 for $19,050 cash. f. Declared $11,169 in dividends to be paid at the beginning of the next fiscal year.

Answer 1

Cash					Short-term Investments
Beg. Bal	$ 14,084				Beg. Bal.	$ 11,425
a.	$ 18,309	$ 25,000	b.		b.	$ 20,000
d.	$ 1,513	$ 9,615	c.				$ 19,050	e.
e.	$ 19,050
End. Bal.	$ 18,341				End. Bal.	$ 12,375
Accounts Receivable					Inventories
Beg. Bal	$ 17,755				Beg. Bal.	$ 2,142
End. Bal.	$ 17,755				End. Bal.	$ 2,142
Other Current Assets					Long-term Investments
Beg. Bal	$ 24,231				Beg. Bal.	$ 132,264
					b.	$ 5,000
End. Bal.	$ 24,231				End. Bal.	$ 137,264
Property, plant and Equipment					Other Non-current assets
Beg. Bal	$ 20,957				Beg. Bal.	$ 12,728
c.	$ 11,069
End. Bal.	$ 32,026				End. Bal.	$ 12,728
Accounts payable					Accrued Expenses
Beg. Bal		$ 30,687			Beg. Bal.		$ 18,755
End. Bal.		$ 30,687			End. Bal.		$ 18,755
Unearned Revenue					Short-term Notes payable
Beg. Bal.		$ 8,635			Beg. Bal.		$ 6,411
							$ 1,454	c.
End. Bal.		$ 8,635			End. Bal.		$ 7,865
Dividends Payable					Long-term debt
Beg. Bal.		$ 0			Beg. Bal.		$ 29,464
		$ 11,169	f.				$ 18,309	a.
End. Bal.		$ 11,169			End. Bal.		$ 47,773
Other Noncurrent Liabilities					Common stock
Beg. Bal.		$ 28,310			Beg. Bal.		$ 1
					d.		$ 1
End. Bal.		$ 28,310			End. Bal.		$ 2
Additions paid-in capital					Retained Earnings
Beg. Bal.		$ 25,712			Beg. Bal.		$ 87,611
d.		$ 1,512			f.	$ 11,169
End. Bal		$ 27,224			End. Bal		$ 76,442