Homework Help is Here – Start Your Trial Now!
Business
Accounting
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 $13,924 11,297 17,559 2,122 24,007 68,909 130, 880 20,737 12,592 $233,118 $30,363 18,555 8,539 6,343 63,800 29, 148 28,010 120,958 1 23,912 88,247 112, 160 $233, 118 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.

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 $13,924 11,297 17,559 2,122 24,007 68,909 130, 880 20,737 12,592 $233,118 $30,363 18,555 8,539 6,343 63,800 29, 148 28,010 120,958 1 23,912 88,247 112, 160 $233, 118 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 15P: Investments in Equity Securities Manson Incorporated reported investments in equity securities of...
See similar textbooks
icon
Related questions
Question
Including the liabilities and stockholder’s equity. Please complete with the given format please.
4. Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions. Note: Enter your answers in millions. ORANGE INCORPORATED Balance Sheet At September 26, 2020 For the Year Ended September 26, 2020
Transcribed Image Text:4. Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions. Note: Enter your answers in millions. ORANGE INCORPORATED Balance Sheet At September 26, 2020 For the Year Ended September 26, 2020
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) $13,924 11,297 17,559 2,122 24,007 68,909 130, 880 20,737 12,592 $233, 118 $30,363 18,555 8,539 6,343 63,800 29, 148 28,010 120,958 1 23,912 88,247 112, 160 $233,118 Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.
Transcribed Image Text: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) $13,924 11,297 17,559 2,122 24,007 68,909 130, 880 20,737 12,592 $233, 118 $30,363 18,555 8,539 6,343 63,800 29, 148 28,010 120,958 1 23,912 88,247 112, 160 $233,118 Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Long-term liabilities
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS