Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
6th Edition
ISBN: 9780134486857
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter C, Problem 25E
To determine
Identify the non-cash transactions that occurred during the year and the explain the manner in which they are reported in the non-cash investing and financing activities section of the statement of cash flows.
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ASSETS
Current assets:
Cash
MANGO INC..
CONSOLIDATED BALANCE SHEET
September 30, 2017
(dollars in millions)
Short-term investments
Accounts receivable
Inventories
Other current assets
Total current assets
Long-term investments
Property, plant, and equipment, net
Other noncurrent assets
Total assets
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable
Accrued expenses
Unearned revenue.
Short-term notes payable
Total current liabilities
Long-term debt
Other noncurrent liabilities
Total liabilities.
Stockholders' equity:
Common stock ($0.00001 per value)
Additional paid-in capital
Retained earnings
Total stockholders' equity
Total liabilities and shareholders' equity
Assume that the following transactions
fin
$ 14,024
11,377
17,681
2,134
24,141
69,357
131,732
20,873
12,676
$234,638
$ 30,563
18,679
8,599
6,385
64,226
29,344
28,196
121,766
1
25,212
87,659
112,872
$234,638
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018):
Borrowed $21,304 from banks due in two years.
Purchased additional investments for $21,500 cash; one-fifth were long term and the rest were short term.
Purchased property, plant, and equipment; paid $9,610 in cash and signed a short-term note for $1,448.
Issued additional shares of common stock for $1,507 in cash; total par value was $1 and the rest was in excess of par value.
Sold short-term investments costing $19,045 for $19,045 cash.
Declared $11,163 in dividends to be paid at the beginning of the next fiscal year.
Use the drop-downs below to select the accounts that should be properly included on the balance sheet.
MANGO, INC.
Balance Sheet
At September 29, 2018
(in millions)
Assets
Current assets:
Total current assets
0
Total assets
$0
Liabilities…
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018):
Borrowed $21,304 from banks due in two years.
Purchased additional investments for $21,500 cash; one-fifth were long term and the rest were short term.
Purchased property, plant, and equipment; paid $9,610 in cash and signed a short-term note for $1,448.
Issued additional shares of common stock for $1,507 in cash; total par value was $1 and the rest was in excess of par value.
Sold short-term investments costing $19,045 for $19,045 cash.
Declared $11,163 in dividends to be paid at the beginning of the next fiscal year.
QUESTION: Compute Mango's current ratio for the year ending on September 29, 2018. (Round your answer to 2 decimal places.)
Current Ratio:
Chapter C Solutions
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Ch. C - Identify each item as operating (O), investing...Ch. C - Identify each item as operating (O), investing...Ch. C - Identify each item as operating (O), investing...Ch. C - Identify each item as operating (O), investing...Ch. C - Identify each item as operating (O), investing...Ch. C - Prob. 6TICh. C - Prob. 7TICh. C - Prob. 8TICh. C - Muench Inc.s accountant has partially completed...Ch. C - Prob. 1QC
Ch. C - Prob. 2QCCh. C - Prob. 3QCCh. C - Prob. 4QCCh. C - Prob. 5QCCh. C - Prob. 6QCCh. C - Prob. 7QCCh. C - Prob. 8QCCh. C - Prob. 9QCCh. C - Prob. 10QCCh. C - Prob. 1RQCh. C - Prob. 2RQCh. C - Prob. 3RQCh. C - Prob. 4RQCh. C - Prob. 5RQCh. C - Prob. 6RQCh. C - Prob. 7RQCh. C - If a company experienced a loss on disposal of...Ch. C - Prob. 9RQCh. C - Prob. 10RQCh. C - Prob. 11RQCh. C - Prob. 12RQCh. C - Prob. 13RQCh. C - Prob. 14RQCh. C - How does the direct method differ from the...Ch. C - Prob. 16RQCh. C - Prob. 1SECh. C - Prob. 2SECh. C - Prob. 3SECh. C - DVR Equipment, Inc. reported the following data...Ch. C - Prob. 5SECh. C - Prob. 6SECh. C - Prob. 7SECh. C - Prob. 8SECh. C - Prob. 9SECh. C - Julie Lopez Company expects the following for...Ch. C - Prob. 11SECh. C - Prob. 12SECh. C - Prob. 13SECh. C - Prob. 14SECh. C - Prob. 15SECh. C - Prob. 16ECh. C - Prob. 17ECh. C - Prob. 18ECh. C - Prob. 19ECh. C - Prob. 20ECh. C - The income statement of Boost Plus, Inc. follows:...Ch. C - Prob. 22ECh. C - Rouse Exercise Equipment, Inc. reported the...Ch. C - Use the Rouse Exercise Equipment data in Exercise...Ch. C - Prob. 25ECh. C - Prob. 26ECh. C - Prob. 27ECh. C - Prob. 28ECh. C - Prob. 29ECh. C - Prob. 30ECh. C - Prob. 31ECh. C - American Rare Coins (ARC) was formed on January 1,...Ch. C - Prob. 33APCh. C - Prob. 34APCh. C - Prob. 35APCh. C - Boundary Rare Coins (BRC) was formed on January 1,...Ch. C - Use the Rolling Hills, Inc. data from Problem...Ch. C - Prob. 38APCh. C - Classic Rare Coins (CRC) was formed on January 1,...Ch. C - Accountants for Benson, Inc. have assembled the...Ch. C - Prob. 41BPCh. C - Prob. 42BPCh. C - Prob. 43BPCh. C - Use the Sweet Valley data from Problem P14-41B....Ch. C - Prob. 45BPCh. C - Prob. 47PCh. C - Before you begin this assignment, review the Tying...Ch. C - Prob. 1DCCh. C - Prob. 1EICh. C - Details about a companys cash flows appear in a...
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