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E1-4 LO1-1 Honda Motor Corporation Preparing a Balance Sheet Honda Motor Corporation of Japan is a leading international manufacturer of automobiles, motorcycles, all-terrain vehicles, and personal watercraft. As a Japanese company, it follows Japanese GAAP and reports its financial statements in billions of yen (the sign for yen is ¥). A simplified version of its recent balance sheet contained the following items (in billions). Prepare a balance sheet as of March 31, current year, solving for the missing amount. (Hint: Exhibit 1.2 in the chapter provides a good model for completing this exercise.) Cash and cash equivalents ¥2,106 Common stock Accounts payable and other current liabilities Inventories Investments Long-term debt Net property, plant, and equipment. Other assets Other liabilities Retained earnings Total assets Total liabilities and stockholders' equity Trade accounts, notes, and other receivables. Source: Honda Motor Corporation 231 5,429 1,364 597 4,022 3,200 8,606 1,938 7,338 18,958 ? 3,085

E1-4 LO1-1 Honda Motor Corporation Preparing a Balance Sheet Honda Motor Corporation of Japan is a leading international manufacturer of automobiles, motorcycles, all-terrain vehicles, and personal watercraft. As a Japanese company, it follows Japanese GAAP and reports its financial statements in billions of yen (the sign for yen is ¥). A simplified version of its recent balance sheet contained the following items (in billions). Prepare a balance sheet as of March 31, current year, solving for the missing amount. (Hint: Exhibit 1.2 in the chapter provides a good model for completing this exercise.) Cash and cash equivalents ¥2,106 Common stock Accounts payable and other current liabilities Inventories Investments Long-term debt Net property, plant, and equipment. Other assets Other liabilities Retained earnings Total assets Total liabilities and stockholders' equity Trade accounts, notes, and other receivables. Source: Honda Motor Corporation 231 5,429 1,364 597 4,022 3,200 8,606 1,938 7,338 18,958 ? 3,085

FINANCIAL ACCOUNTING
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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E1-4 LO1-1 Honda Motor Corporation Preparing a Balance Sheet Honda Motor Corporation of Japan is a leading international manufacturer of automobiles, motorcycles, all-terrain vehicles, and personal watercraft. As a Japanese company, it follows Japanese GAAP and reports its financial statements in billions of yen (the sign for yen is ¥). A simplified version of its recent balance sheet contained the following items (in billions). Prepare a balance sheet as of March 31, current year, solving for the missing amount. (Hint: Exhibit 1.2 in the chapter provides a good model for completing this exercise.) Cash and cash equivalents ¥2,106 Common stock Accounts payable and other current liabilities Inventories Investments Long-term debt Net property, plant, and equipment Other assets Other liabilities Retained earnings Total assets Total liabilities and stockholders' equity Trade accounts, notes, and other receivables Source: Honda Motor Corporation 231 5,429 1,364 597 4,022 3,200 8,606 1,938 7,338 18,958 ? 3,085
Transcribed Image Text:E1-4 LO1-1 Honda Motor Corporation Preparing a Balance Sheet Honda Motor Corporation of Japan is a leading international manufacturer of automobiles, motorcycles, all-terrain vehicles, and personal watercraft. As a Japanese company, it follows Japanese GAAP and reports its financial statements in billions of yen (the sign for yen is ¥). A simplified version of its recent balance sheet contained the following items (in billions). Prepare a balance sheet as of March 31, current year, solving for the missing amount. (Hint: Exhibit 1.2 in the chapter provides a good model for completing this exercise.) Cash and cash equivalents ¥2,106 Common stock Accounts payable and other current liabilities Inventories Investments Long-term debt Net property, plant, and equipment Other assets Other liabilities Retained earnings Total assets Total liabilities and stockholders' equity Trade accounts, notes, and other receivables Source: Honda Motor Corporation 231 5,429 1,364 597 4,022 3,200 8,606 1,938 7,338 18,958 ? 3,085
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