Nike, Incorporated, with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions, except for par value. a. Purchased additional buildings for $188 and equipment for $270; paid $410 in cash and signed a long-term note for the rest. b. Issued 110 shares of $2 par value common stock for $345 cash. c. Declared $140 in dividends to be paid in the following year. d. Purchased additional short-term investments for $7,616 cash. e. Several Nike investors sold their own stock to other investors on the stock exchange for $80. f. Sold $4,413 in short-term investments for $4,413 in cash. g. Borrowed $6,124 from a bank; signed a note due in 20 years. h. Repurchased its common stock for $2,977 in cash. Required: For each of the events (a) through (h), perform transaction analysis and indicate the account and amounts. Check that the accounting equation remains in balance after each transaction. Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on the accounting equation leave cells blank. Enter your answers in millions, (for example, 5.5 million should be entered as 5.5 rather than 5,500,000). Event a. a. a. b. b. C. C. d. Assets = ||||||| = Liabilities + + 4 + + + + + Stockholders' Equity
Nike, Incorporated, with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions, except for par value. a. Purchased additional buildings for $188 and equipment for $270; paid $410 in cash and signed a long-term note for the rest. b. Issued 110 shares of $2 par value common stock for $345 cash. c. Declared $140 in dividends to be paid in the following year. d. Purchased additional short-term investments for $7,616 cash. e. Several Nike investors sold their own stock to other investors on the stock exchange for $80. f. Sold $4,413 in short-term investments for $4,413 in cash. g. Borrowed $6,124 from a bank; signed a note due in 20 years. h. Repurchased its common stock for $2,977 in cash. Required: For each of the events (a) through (h), perform transaction analysis and indicate the account and amounts. Check that the accounting equation remains in balance after each transaction. Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on the accounting equation leave cells blank. Enter your answers in millions, (for example, 5.5 million should be entered as 5.5 rather than 5,500,000). Event a. a. a. b. b. C. C. d. Assets = ||||||| = Liabilities + + 4 + + + + + Stockholders' Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Nike, Incorporated, with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports
apparel. The following activities occurred during a recent year. The amounts are rounded to millions, except for par value.
a. Purchased additional buildings for $188 and equipment for $270; paid $410 in cash and signed a long-term note for the rest.
b. Issued 110 shares of $2 par value common stock for $345 cash.
c. Declared $140 in dividends to be paid in the following year.
d. Purchased additional short-term investments for $7,616 cash.
e. Several Nike investors sold their own stock to other investors on the stock exchange for $80.
f. Sold $4,413 in short-term investments for $4,413 in cash.
g. Borrowed $6,124 from a bank; signed a note due in 20 years.
h. Repurchased its common stock for $2,977 in cash.
Required:
For each of the events (a) through (h), perform transaction analysis and indicate the account and amounts. Check that the accounting
equation remains in balance after each transaction.
Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on the accounting equation leave cells
blank. Enter your answers in millions, (for example, 5.5 million should be entered as 5.5 rather than 5,500,000).
Event
a.
a.
a.
b.
b.
C.
C.
d.
Assets
=
=
=
=
=
=
=
< Prev
Liabilities
5 of 9
‒‒‒
-
+
+
+
4
+
+
+
Maid
+
+
Stockholders' Equity
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