Suppose the following items are taken from the 2025 balance sheet of Verizon Communications. (All dollars are in millions) Goodwill Common stock Equipment Accounts payable Patents Stock investments Dong-term) Accounts receivable Prepaid rent Debt investments (short-term) Retained earnings Cash Notes payable (long-term) Unearned sales revenue Accumulated depreciation- $3.927 6,283 1.737 152 234 3,247 1061 233 1.160 6,108 2,292 734 413 201

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Suppose the following items are taken from the 2025 balance sheet of Verizon Communications. (All dollars are in millions)
Goodwill
Common stock
Equipment
Accounts payable
Patents
Stock investments (long-term)
Accounts receivable
Prepaid rent
Debt investments (short-term)
Retained earnings
Cash
Notes payable (long-term)
Unearned sales revenue
Accumulated depreciation-equipment
$3,927
6,283
1,737
152
234
3,247
1,061
233
1,160
6,108
2,292
734
413
201
Transcribed Image Text:Suppose the following items are taken from the 2025 balance sheet of Verizon Communications. (All dollars are in millions) Goodwill Common stock Equipment Accounts payable Patents Stock investments (long-term) Accounts receivable Prepaid rent Debt investments (short-term) Retained earnings Cash Notes payable (long-term) Unearned sales revenue Accumulated depreciation-equipment $3,927 6,283 1,737 152 234 3,247 1,061 233 1,160 6,108 2,292 734 413 201
Prepare a classified balance sheet for Verizon Communications as of December 31, 2025. (List Current Assets in order of liquidity. Enter
amounts in millions.)
VERIZON COMMUNICATIONS
Balance Sheet
December 31, 2025
(Amounts are in millions)
Assets
Transcribed Image Text:Prepare a classified balance sheet for Verizon Communications as of December 31, 2025. (List Current Assets in order of liquidity. Enter amounts in millions.) VERIZON COMMUNICATIONS Balance Sheet December 31, 2025 (Amounts are in millions) Assets
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