ASSETS Current assets: Cash ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) 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 debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $13,924 11,297 17,559 2,122 24,007 68,909 130, 880 20,737 12,592 $233,118 $30,363 18,555 8,539 6,343 63,800 29, 148 28,010 120,958 1 23,912 88,247 112, 160 $233, 118 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.
ASSETS Current assets: Cash ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) 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 debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $13,924 11,297 17,559 2,122 24,007 68,909 130, 880 20,737 12,592 $233,118 $30,363 18,555 8,539 6,343 63,800 29, 148 28,010 120,958 1 23,912 88,247 112, 160 $233, 118 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 15P: Investments in Equity Securities Manson Incorporated reported investments in equity securities of...
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