FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Please calculate the debts to asset ration for the year of 2019. Please show your work.
Verizon Communications Inc. and Subsidiaries
(dollars in millions, except per share amounts) (unaudited)
Assets
Current assets
Cash and cash equivalents
Accounts receivable
Less Allowance for credit losses
Less Allowance for doubtful accounts
Accounts receivable, net (Note 1)
Inventories
Prepaid expenses and other
Total current assets
Property, plant and equipment
Less Accumulated depreciation
Property, plant and equipment, net
Investments in unconsolidated businesses
Wireless licenses.
Goodwill
Other intangible assets, net
Operating lease right-of-use assets
Other assets
Total assets
Liabilities and Equity
Current liabilities
Debt maturing within one year
Accounts payable and accrued liabilities
Current operating lease liabilities
Other current liabilities
Total current liabilities
Long-term debt
Employee benefit obligations
Deferred income taxes
Non-current operating lease liabilities
Other liabilities
Total long-term liabilities
$
At September 30,
2020
8,983 S
23,846
1,229
22,617
1,457
5,515
38,572
276,210
183,028
93,182
535
95,958
24,799
9,599
22,680
11,669
296,994 S
5,770 S
17,391
3,494
9,530
36,185
109,790
18,756
34,567
18,155
13,011
194,279
At December 31,
2019
2,594
26,162
733
25,429
1,422
8,028
37,473
265,734
173,819
91,915
558
95,059
24,389
9,498
22,694
10,141
291,727
10,777
21,806
3,261
9,024
44,868
100,712
17,952
34,703
18,393
12,264
184,024
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Transcribed Image Text:Verizon Communications Inc. and Subsidiaries (dollars in millions, except per share amounts) (unaudited) Assets Current assets Cash and cash equivalents Accounts receivable Less Allowance for credit losses Less Allowance for doubtful accounts Accounts receivable, net (Note 1) Inventories Prepaid expenses and other Total current assets Property, plant and equipment Less Accumulated depreciation Property, plant and equipment, net Investments in unconsolidated businesses Wireless licenses. Goodwill Other intangible assets, net Operating lease right-of-use assets Other assets Total assets Liabilities and Equity Current liabilities Debt maturing within one year Accounts payable and accrued liabilities Current operating lease liabilities Other current liabilities Total current liabilities Long-term debt Employee benefit obligations Deferred income taxes Non-current operating lease liabilities Other liabilities Total long-term liabilities $ At September 30, 2020 8,983 S 23,846 1,229 22,617 1,457 5,515 38,572 276,210 183,028 93,182 535 95,958 24,799 9,599 22,680 11,669 296,994 S 5,770 S 17,391 3,494 9,530 36,185 109,790 18,756 34,567 18,155 13,011 194,279 At December 31, 2019 2,594 26,162 733 25,429 1,422 8,028 37,473 265,734 173,819 91,915 558 95,059 24,389 9,498 22,694 10,141 291,727 10,777 21,806 3,261 9,024 44,868 100,712 17,952 34,703 18,393 12,264 184,024
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