Piston Motor Company 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). Cash and cash equivalents¥760Common stock 369Accounts payable and other current liabilities 4,267Inventories 1,424Investments 819Long-term debt 2,013Net property, plant, and equipment 2,268Other assets 6,294Other liabilities 1,689Retained earnings 4,151Total assets 12,489Total liabilities and stockholders’ equity ?Trade accounts, notes, and other receivables 924 Prepare a balance sheet as of March 31, current year, solving for the missing amount. (Enter your answers in billions.)

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Piston Motor Company 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).


Cash and cash equivalents	¥	760
Common stock		369
Accounts payable and other current liabilities		4,267
Inventories		1,424
Investments		819
Long-term debt		2,013
Net property, plant, and equipment		2,268
Other assets		6,294
Other liabilities		1,689
Retained earnings		4,151
Total assets		12,489
Total liabilities and stockholders’ equity		?
Trade accounts, notes, and other receivables		924

Prepare a balance sheet as of March 31, current year, solving for the missing amount. (Enter your answers in billions.)

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