Required:3. Prepare a trial balance at September 26, 2020.Note: Enter your answers in millions.CashAPPLE INCORPORATEDTrial BalanceAt September 26, 2020(in millions)Debit4+Credit Current assets:CashShort-term investmentsAccounts receivableInventoriesOther current assetsTotal current assetsLong-term investmentsProperty, plant, and equipment, netOther noncurrent assetsTotal assetsLIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Accounts payableAccrued expensesUnearned revenueShort-term debtTotal current liabilitiesLong-term debtOther noncurrent liabilitiesTotal liabilitiesStockholders' equity:Common stock ($0.00001 par value)Additional paid-in capitalRetained earningsTotal stockholders' equityTotal liabilities and shareholders' equity$ 48,84451,71322,9264,10635,230162,819105,34137,37832,978$ 338,516$ 46,23643,7005,52210,260105,71891,80750,503248,028145,17345,31490,488$ 338,516

Trial-balance refers to a part of a financial statement that records the final balances of the…

Answered: Current assets: Cash Short-term…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 13MCQ

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Dec. 31, 2020 Dec. 31, 2019 Assets Current assets: Cash and cash equivalents $248,005 $419,465 Accounts receivable 38,283 34,839 Inventory 15.043 15,332 Prepaid expenses and other current assets 39,965 34,795 Income tax receivable 58,152 16,488 Investments 415,199 338,592 Total current assets 814.647 859,511 Property, plant, & equipment, net 1,217.220 1,106,984 Long-term investments 622,939 496.106 Other assets 70,260 64,716 Total assets $2,725,066 $2,527,317 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $85,709 $69,613 Accrued payroll and benefits 64,958 73,894 Accrued liabilities 129,275 102,203 Total current liabilities 279,942 245,710 Deferred liabilities 284.267 240,975 Other liabilities 32.883 28,263 Total liabilities 597,092 514,948 Shareholders' equity: Common stock 358 354 Additional paid-in capital 954,988 861.843 Retained earnings 1,172.628 1,150,172 Total shareholders' equity 2,127,974 2,012.369 Total liabilities and shareholders' equity…
ASSETS Cash Accounts receivable, net Inventories Prepaid and other current assets Total current assets Restricted cash Accounts receivable, net, non-current Property, plant and equipment, net Operating lease right-of-use assets Other assets Total assets LIABILITIES AND EQUITY (DEFICIT) Accounts payable Accrued liabilities Deferred revenue Current portion of long-term debt Other current liabilities Total current liabilities. Long-term debt, net of current portion Operating lease liabilities, net of current portion Other long-term liabilities. Total liabilities Equity (Deficit) Class A common stock, par value $0.0001 and 124,785,562 shares issued and outstanding at December 31, 2022 and 119,280,781 shares issued and outstanding at December 31, 2021 Class B common stock, par value $0.0001 and 268,823,501 shares issued and outstanding at December 31, 2022 and 269,243,501 shares issued and outstanding at December 31, 2021 Additional paid-in-capital Accumulated other comprehensive income…
Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable. Total current liabilities. Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Ending Balance $ 31,000 18,000 58,000 12,000 119,000 374,000 190,000 184,000 $ 303,000 $ 13,000 52,000 67,000 132,000 76,000 208,000 Beginning Balance $ 28,000 20,000 56,000 10,000 114,000 354,000 165,000 189,000 $ 303,000 $ 9,000 53,000 69,000 131,000 73,000 204,000 28,000 26,000 67,000 73,000 95,000 99,000 $ 303,000 $ 303,000 The company's net income (loss) for the year was ($3,000) and its cash dividends were $3,000. It did not sell or…
Liquid assets is determined by Select one: a. Current assets - current liabilities O b. Current liabilities- Bank overdraft c. Current assets +stock+ prepaid expenses O d. Current assets-stock-Prepaid expenses
Cash paid to purchase long-term investments would be reported in the Statement of Cash Flows as: Multiple Choice a deduction from the Investing section an addition to the Investing section a deducțion from the Operating section an addition to the Financing section
Knowledge Check 01 Which of the following describes how working capital is computed? Multiple Choice Current assets Current liabilities Current liabilities Current assets Current assets-Current liabilities Current assets + Noncurrent liabilities
Accounting type Question: Sale of long term investment indicates: A. a change in current assets B. application of funds C. increase in working capital D. source of funds
9, please answer last part. thanks please pick from the follow accounts: Accumulated Other Comprehensive Income Allowance for Investment Impairment Bond Investment at Amortized Cost Cash Commission Expense Dividends Receivable Dividend Revenue FV-NI Investments FV-OCI Investments Gain on Disposal of Investments - FV-NI Gain on Disposal of Investments - FV-OCI Gain on Sale of Investments GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Investment in Associate Investment Income or Loss Loss on Discontinued Operations Loss on Disposal of Investments FV-NI Loss on Disposal of Investments FV-OCI Loss on Impairment Loss on Sale of Investments No Entry Note Investment at Amortized Cost Other Investments Recovery of Loss from Impairment Retained Earnings Unrealized Gain or Loss Unrealized Gain or Loss - OCI
Which of the following constitutes an internal source of funds Oa. Corporate bonds b. Common stock Oc Commercial paper O d. Retained earnings and amortization cash flow
Question: 1. Return on capital employed or Return on net assets or Return on investment (need to give interpretation) Profit before interest and tax/year end capital employed Profit before interest and tax/average capital employed wealth during year Profit before interest and tax/net assets
Classifying Items in the Statement of Cash Flows The following items are commonly reported in a statement of cash flows (indirect method presentation). For each item 1 through 20, determine (a) in which section the item is presented (operating, investing, or financing) and (b) whether the associated dollar amount is added or subtracted in the statement. (a) (b) 1. Payments of short-term debt. AnswerOperatingInvestingFinancing AnswerAddSubtract 2. Repurchases of common stock. AnswerOperatingInvestingFinancing AnswerAddSubtract 3. Purchases of property and equipment. AnswerOperatingInvestingFinancing AnswerAddSubtract 4. Sale of investments classified as long-term. AnswerOperatingInvestingFinancing AnswerAddSubtract 5. Proceeds from the issuance of common stock. AnswerOperatingInvestingFinancing AnswerAddSubtract 6. Increase in prepaid expenses and other current assets. AnswerOperatingInvestingFinancing AnswerAddSubtract 7. Acquisition for cash of a competitor.…
classification of the changes below into Operating, investing and financing activities for statement of cash flow purposes. Accounts recievable Inventories Prepayments Property, Plant, and equipment (at cost) Accumulated Depreciation Other Non-operating Assets Accounts payable Other current liabilities Long-Term Debt Other Non-operating liabilities common stock Retained Earnings.

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