The Balance Sheet of the XYZ Corporation XYZ CORPORATION Balance Sheet 20X2 and 20X1 (in $ millions) Liabilities (Debt) and Stockholder's Equity Current Liabilities $107 Accounts payable 270 Notes payable 280 Accrued expenses Assets 20X2 20X1 20X2 20X1 Current assets Cash and equivalents Accounts receivable Inventories $140 294 $213 50 $197 53 269 223 205 Other Total current assets 58 $761 50 $707 Total current liabilities Long-term liabilities $1274 Deferred taxes $486 $455 Fixed assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Intangible assets and other Total fixed assets $1423 $117 $104 -550 -460 Long-term debt 471 458 $873 $814 Total long-tem liabilities $588 $562 221 Stockholder's equity $1,035 Preferred stock 245 $1,118 $39 55 $39 32 Common stock ($1 per value) Capital surplus Accumulated retained carnings Less treasury stock Total equity 347 327 347 390 -26 -20 $805 $725 Total assets $1,879 $1,742 Total liabilities and $1,879 $1,742 stockholder's equity

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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critically analyze the balance sheet of XYZ corporation.

The Balance Sheet of the XYZ Corporation
XYZ CORPORATION
Balance Sheet
20X2 and 20X1
(in $ millions)
Liabilities (Debt) and
Stockholder's Equity
Assets
20X2
20х1
20X2
20X1
Current assets
Cash and equivalents
Accounts receivable
Current Liabilities
$107 Accounts payable
270 Notes payable
280 Accrued expenses
50
$140
$213
$197
294
50
53
Inventories
269
223
205
Other
58
Total current assets
$761
$707 Total current liabilities
$486
$455
Fixed assets
Long-term liabilities
Property, plant, and
equipment
Less accumulated
depreciation
Net property, plant, and
equipment
Intangible assets and other
Total fixed assets
$1423
$1274 Deferred taxes
$117
$104
-550
-460 Long-term debt
471
458
$873
$814 Total long-tem liabilities
$588
$562
221 Stockholder's equity
$1,035 Preferred stock
245
$1,118
$39
$39
Common stock ($1 per value)
Capital surplus
Accumulated retained
earnings
Less treasury stock
Total equity
55
32
347
390
327
347
-26
-20
$805
$725
Total liabilities and
Total assets
$1,879
$1,742
$1,879
$1,742
stockholder's equity
Transcribed Image Text:The Balance Sheet of the XYZ Corporation XYZ CORPORATION Balance Sheet 20X2 and 20X1 (in $ millions) Liabilities (Debt) and Stockholder's Equity Assets 20X2 20х1 20X2 20X1 Current assets Cash and equivalents Accounts receivable Current Liabilities $107 Accounts payable 270 Notes payable 280 Accrued expenses 50 $140 $213 $197 294 50 53 Inventories 269 223 205 Other 58 Total current assets $761 $707 Total current liabilities $486 $455 Fixed assets Long-term liabilities Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Intangible assets and other Total fixed assets $1423 $1274 Deferred taxes $117 $104 -550 -460 Long-term debt 471 458 $873 $814 Total long-tem liabilities $588 $562 221 Stockholder's equity $1,035 Preferred stock 245 $1,118 $39 $39 Common stock ($1 per value) Capital surplus Accumulated retained earnings Less treasury stock Total equity 55 32 347 390 327 347 -26 -20 $805 $725 Total liabilities and Total assets $1,879 $1,742 $1,879 $1,742 stockholder's equity
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