FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The comparative
Additional data obtained from an examination of the accounts in the ledger for 2020 are as follows:
- The investments were sold for $875 million cash.
- Equipment and land were acquired for cash.
- There were no disposals of equipment during the year.
- The common stock was bought back with cash.
- There was a $89 million credit to
Retained Earnings for net income. - There was a $564 million debit to Retained Earnings for cash dividends declared.
Prepare a statement of
Transcribed Image Text:Best Buy
Comparative Balance Sheet
For January 31, 2020 and 2019
$in millions
Jan 31, 2020 Jan 31, 2019
Assets
Cash
Accounts receivable
Inventory
Investments
Land
Equipment
Accumulated depreciation - Equipment
2,229 $
1,149 $
5,174 $
1,980
1,015
5,409
500
637
650 $
9,228 $
(6,900) $
9,200
(6,690)
Total assets
11,530 |$
12,051
Liabilities and Stockholders' Equity
Accounts payable
Accrued expenses payable (operating expenses).
Dividends payable
Common stock
Paid in capital: Excess of Issue price over par- common stock
Retained eamings
Total liabilities and stockholders' equity
5,288 $
906 $
564 $
26$
5,257
982
564
27
4,746 $
11,530 $
5,221
12,051
haka ko
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