CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: $ 14,054 11,401 17,718 2,138 24,186 69,497 131,998 20,915 12,702 $ 235,112 Cash 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 notes payable $ 30,625 18,717 8,617 6,398 Total current liabilities Long-term debt Other noncurrent liabilities 64,357 29,404 28,253 122,014 Total liabilities Stockholders' equity: Common stock ($0.00001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity 1 25,512 87,585 113,098 $235,112 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018): a. Borrowed $21,304 from banks due in two years. b. Purchased additional investments for $21,500 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,610 in cash and signed a short-term note for $1,448. d. Issued additional shares of common stock for $1,507 in cash; total par value was $1 and the rest was in excess of par value e. Sold short-term investments costing $19,045 for $19,045 cash. f. Declared $11,163 in dividends to be paid at the beginning of the next fiscal year.

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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Question

Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018):

Borrowed $21,304 from banks due in two years.
Purchased additional investments for $21,500 cash; one-fifth were long term and the rest were short term.
Purchased property, plant, and equipment; paid $9,610 in cash and signed a short-term note for $1,448.
Issued additional shares of common stock for $1,507 in cash; total par value was $1 and the rest was in excess of par value.
Sold short-term investments costing $19,045 for $19,045 cash.
Declared $11,163 in dividends to be paid at the beginning of the next fiscal year.

Use the drop-downs below to select the accounts that should be properly included on the balance sheet.

MANGO, INC.
Balance Sheet
At September 29, 2018
(in millions)
Assets
Current assets:






Total current assets	0




Total assets	$0
Liabilities and Stockholders’ Equity
Current Liabilities:






Total current liabilities	0



Total liabilities	0
Stockholders’ Equity




Total stockholders’ equity	0
Total liabilities and stockholders’ equity	$0

MANGO INC.
CONSOLIDATED BALANCE SHEET
September 30, 2017
(dollars in millions)
ASSETS
Current assets:
$ 14,054
11,401
17,718
2,138
24,186
69,497
131,998
20,915
12,702
$ 235,112
Cash
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:
$ 30,625
18,717
8,617
6,398
64,357
29,404
28,253
122,014
Accounts payable
Accrued expenses
Unearned revenue
Short-term notes payable
Total current liabilities
Long-term debt
Other noncurrent liabilities
Total liabilities
Stockholders' equity:
Common stock ($0.00001 per value)
Additional paid-in capital
Retained earnings
Total stockholders' equity
1
25,512
87,585
113,098
$235,112
Total liabilities and shareholders' equity
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018):
a. Borrowed $21,304 from banks due in two years.
b. Purchased additional investments for $21,500 cash; one-fifth were long term and the rest were short term.
c. Purchased property, plant, and equipment; paid $9,610 in cash and signed a short-term note for $1,448.
d. Issued additional shares of common stock for $1,507 in cash; total par value was $1 and the rest was in excess of par value.
e. Sold short-term investments costing $19,045 for $19,045 cash.
f. Declared $11,163 in dividends to be paid at the beginning of the next fiscal year.

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