Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). ASSETS Current assets: Cash ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (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 debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity. Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $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 26, 2020); Borrowed $18,299 from banks due in two years. Purchased additional investments for $24,100 cash; one-fifth were long term and the rest were short term. Purchased property, plant, and equipment, paid $9,605 in cash and signed a short-term note for $1,443. Issued additional shares of common stock for $1,503 in cash; total par value was $1 and the rest was in excess of par value. Sold short-term investments costing $19,040 for $19,040 cash. Declared $11.158 in dividends to be paid at the beginning of the next fiscal year.
Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). ASSETS Current assets: Cash ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (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 debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity. Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $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 26, 2020); Borrowed $18,299 from banks due in two years. Purchased additional investments for $24,100 cash; one-fifth were long term and the rest were short term. Purchased property, plant, and equipment, paid $9,605 in cash and signed a short-term note for $1,443. Issued additional shares of common stock for $1,503 in cash; total par value was $1 and the rest was in excess of par value. Sold short-term investments costing $19,040 for $19,040 cash. Declared $11.158 in dividends to be paid at the beginning of the next fiscal year.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 60P
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