Question

Brief Exercise 9-11 Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2017 (in millions): other plant assets $977.0, land $240.0, patents and trademarks (at cost) $500.0, machinery and equipment $2,080.0, buildings $970.0, goodwill (at cost) $220.0, accumulated amortization $60.0, and accumulated depreciation $2,180.0. Prepare a partial balance sheet for Nike for these items. (List Property, Plant and Equipment in order of Land, Buildings and Equipment.)

Answer 1

	Nike Inc
	Partial Balance Sheet
	as at May 31 2017
Property plant and equipment			Amount
	land		$240
	building	$970
	machinery & equipment	$2,080
	other plant assets	$977
less	accumulated depreciation	($2,180)	$1,847
	Total Property Plant & Equipment		$2,087
Intangible assets
	Goodwill		$220
	Patent & trademarks	$500
less	accumulated amortization	($60)	$440
	Total intangible assets		$660