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E1-15 Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 7. Inventory 8. Income taxes payable 9. Equipment 10. Retained earnings 11. Accounts payable $2,357.0 $2,291.1 2. Accounts receivable 2,883.9 2,874.2 1. Cash 86.3 3. Common stock 1,957.7 5,818.9 2,815.8 4. Notes payable 5. Buildings 6. Mortgage payable 342.9 3,759.9 1,311.5 Instructions Perform each of the following. (a) Classify each of these items as an asset, liability, or stockholders' equity, and deter- mine the total dollar amount for each classification. (b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity. (c) To what extent does Nike rely on debt versus equity financing?

E1-15 Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 7. Inventory 8. Income taxes payable 9. Equipment 10. Retained earnings 11. Accounts payable $2,357.0 $2,291.1 2. Accounts receivable 2,883.9 2,874.2 1. Cash 86.3 3. Common stock 1,957.7 5,818.9 2,815.8 4. Notes payable 5. Buildings 6. Mortgage payable 342.9 3,759.9 1,311.5 Instructions Perform each of the following. (a) Classify each of these items as an asset, liability, or stockholders' equity, and deter- mine the total dollar amount for each classification. (b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity. (c) To what extent does Nike rely on debt versus equity financing?

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.17E: Profitability metrics The following selected data were taken from the financial statements of The...
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E1-15 Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 7. Inventory 8. Income taxes payable 9. Equipment 10. Retained earnings 11. Accounts payable $2,357.0 $2,291.1 2. Accounts receivable 2,883.9 2,874.2 1. Cash 86.3 3. Common stock 1,957.7 5,818.9 2,815.8 4. Notes payable 5. Buildings 6. Mortgage payable 342.9 3,759.9 1,311.5 Instructions Perform each of the following. (a) Classify each of these items as an asset, liability, or stockholders' equity, and deter- mine the total dollar amount for each classification. (b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity. (c) To what extent does Nike rely on debt versus equity financing?
Transcribed Image Text:E1-15 Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 7. Inventory 8. Income taxes payable 9. Equipment 10. Retained earnings 11. Accounts payable $2,357.0 $2,291.1 2. Accounts receivable 2,883.9 2,874.2 1. Cash 86.3 3. Common stock 1,957.7 5,818.9 2,815.8 4. Notes payable 5. Buildings 6. Mortgage payable 342.9 3,759.9 1,311.5 Instructions Perform each of the following. (a) Classify each of these items as an asset, liability, or stockholders' equity, and deter- mine the total dollar amount for each classification. (b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity. (c) To what extent does Nike rely on debt versus equity financing?
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