Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 SupposeNike, Inc.reported the following plant assets and intangible assets for the year ended May 31, 2014 (in millions): other plant assets $973.5; land $223.4;

1

SupposeNike, Inc.reported the following plant assets and intangible assets for the year ended May 31, 2014 (in millions): other plant assets $973.5; land $223.4; patents and trademarks (at cost) $517.2; machinery and equipment $2,039.5; buildings $953; goodwill (at cost) $187.1; accumulated amortization $42.8; and accumulated depreciation $2,334.

Prepare a partial balance sheet for Nike for these items.(List Property, Plant and Equipment in order of Land, Buildings and Equipment.)

NIKE, INC. Partial Balance Sheet As of May 31, 2014 (in millions)
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity
Machinery and EquipmentOther Plant AssetsBuildingsAccumulated DepreciationGoodwillPatents and TrademarksAccumulated AmortizationLand $
BuildingsMachinery and EquipmentAccumulated AmortizationAccumulated DepreciationGoodwillLandOther Plant AssetsPatents and Trademarks $
Accumulated AmortizationPatents and TrademarksAccumulated DepreciationGoodwillMachinery and EquipmentLandBuildingsOther Plant Assets
LandOther Plant AssetsMachinery and EquipmentAccumulated DepreciationGoodwillPatents and TrademarksBuildingsAccumulated Amortization
AddLess: Machinery and EquipmentBuildingsGoodwillAccumulated AmortizationPatents and TrademarksLandOther Plant AssetsAccumulated Depreciation
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity
Machinery and EquipmentPatents and TrademarksAccumulated AmortizationBuildingsLandOther Plant AssetsAccumulated DepreciationGoodwill
Machinery and EquipmentOther Plant AssetsLandBuildingsAccumulated AmortizationAccumulated DepreciationPatents and TrademarksGoodwill $
AddLess: Accumulated DepreciationGoodwillMachinery and EquipmentPatents and TrademarksAccumulated AmortizationLandBuildingsOther Plant Assets
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Stockholders' Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Accounting

Authors: Timothy Doupnik, Hector Perera

3rd Edition

978-0078110955, 0078110955

More Books

Students also viewed these Accounting questions