[The following information applies to the questions displayed below.] 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 following is 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, 084 11,425 17,755 2,142 24, 231 69,637 132, 264 20,957 12,728 $235,586 $30,687 18,755 8,635 6,411 64,488 29,464 28,310 122,262 1 25,712 87,611 113,324 $235,586 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,309 from banks due in two years. b. Purchased additional investments for $25,000 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,615 in cash and signed a short-term note for $1,454. d. Issued additional shares of common stock for $1,513 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,050 for $19,050 cash. f. Declared $11,169 in dividends to be paid at the beginning of the next fiscal year.
[The following information applies to the questions displayed below.] 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 following is 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, 084 11,425 17,755 2,142 24, 231 69,637 132, 264 20,957 12,728 $235,586 $30,687 18,755 8,635 6,411 64,488 29,464 28,310 122,262 1 25,712 87,611 113,324 $235,586 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,309 from banks due in two years. b. Purchased additional investments for $25,000 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,615 in cash and signed a short-term note for $1,454. d. Issued additional shares of common stock for $1,513 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,050 for $19,050 cash. f. Declared $11,169 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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Prepare a
![[The following information applies to the questions displayed below.]
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 following is 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
$14,084
11,425
17,755
2,142
24, 231
69,637
132, 264
20,957
12,728
$235,586
$30,687
18,755
8,635
6,411
64,488
29,464
28,310
122,262
1
25,712
87,611
113,324
$235,586
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020):
a. Borrowed $18,309 from banks due in two years.
b. Purchased additional investments for $25,000 cash; one-fifth were long term and the rest were short term.
c. Purchased property, plant, and equipment; paid $9,615 in cash and signed a short-term note for $1,454.
d. Issued additional shares of common stock for $1,513 in cash; total par value was $1 and the rest was in excess of par
value.
e. Sold short-term investments costing $19,050 for $19,050 cash.
f. Declared $11,169 in dividends to be paid at the beginning of the next fiscal year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdd4af49b-3688-4a2c-a85a-50cae46855e1%2F70995236-cab5-4b77-94f7-f896754e58d2%2Ftivjr23_processed.png&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
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 following is 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
$14,084
11,425
17,755
2,142
24, 231
69,637
132, 264
20,957
12,728
$235,586
$30,687
18,755
8,635
6,411
64,488
29,464
28,310
122,262
1
25,712
87,611
113,324
$235,586
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020):
a. Borrowed $18,309 from banks due in two years.
b. Purchased additional investments for $25,000 cash; one-fifth were long term and the rest were short term.
c. Purchased property, plant, and equipment; paid $9,615 in cash and signed a short-term note for $1,454.
d. Issued additional shares of common stock for $1,513 in cash; total par value was $1 and the rest was in excess of par
value.
e. Sold short-term investments costing $19,050 for $19,050 cash.
f. Declared $11,169 in dividends to be paid at the beginning of the next fiscal year.
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