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Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): Borrowed $18,266 from banks due in two
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020):
- Borrowed $18,266 from banks due in two years.
- Purchased additional investments for $21,000 cash; one-fifth were long term and the rest were short term.
- Purchased property, plant, and equipment; paid $9,571 in cash and signed a short-term note for $1,410.
- Issued additional shares of common stock for $1,469 in cash; total par value was $1 and the rest was in excess of par value.
- Sold short-term investments costing $18,810 for $18,810 cash.
- Declared $11,126 in dividends to be paid at the beginning of the next fiscal year.
- Prepare a classified balance sheet for Apple at September 26, 2020, based on these transactions.
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