Assume Microsoft Corporation reports the following balances for the prior-year balance sheet and current-year income statement ($ millions). Prepare the articulation of Microsoft’s financial statements for fiscal years 2014 and 2015. Balance Sheet, June 30, 2014Income Statement, For Year Ended June 30, 2015AssetsRevenuesExpenses.$93,58081,387Cash .Noncash assets$ 8,669163,715Net income$12,193Total assets. .$172,384Liabilities and equityTotal liabilitiesS 82,600Statement of Cash Flows, For Year Ended June 30, 2015EquityContributed capital.Retained earnings.Other stockholders' equity.Liabilities and equity..Operating cash flowsInvesting cash flows.Financing cash flows$29,080(23,001)(9,153)68,36617,7103,708$172,384Notes:1: Stock issuances for the year are $99.2. Dividends for the year are $10,063.3. Other decreases in retained earnings are $10,744.4. Change in other stockholders' equity for the year is $(1,186).

Articulation of Financial Statements it is the process of describing the financial statements of a…

Answered: Balance Sheet, June 30, 2014 Income…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume Microsoft Corporation reports the following balances for the prior-year balance sheet and current-year income statement ($ millions). Prepare the articulation of Microsoft’s financial statements for fiscal years 2014 and 2015.

Balance Sheet, June 30, 2014
Income Statement, For Year Ended June 30, 2015
Assets
Revenues
Expenses.
$93,580
81,387
Cash .
Noncash assets
$ 8,669
163,715
Net income
$12,193
Total assets. .
$172,384
Liabilities and equity
Total liabilities
S 82,600
Statement of Cash Flows, For Year Ended June 30, 2015
Equity
Contributed capital.
Retained earnings.
Other stockholders' equity.
Liabilities and equity..
Operating cash flows
Investing cash flows.
Financing cash flows
$29,080
(23,001)
(9,153)
68,366
17,710
3,708
$172,384
Notes:1: Stock issuances for the year are $99.
2. Dividends for the year are $10,063.
3. Other decreases in retained earnings are $10,744.
4. Change in other stockholders' equity for the year is $(1,186).

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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