Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given data below answer the question's Balance Sheet numbers in millions ABC Company Year Ended Year Ended 12/31/2021 12/31/2020 Year Ended 12/31/2020 Assets: Cash Accounts

Given data below answer the question's
imageimage

Balance Sheet numbers in millions ABC Company Year Ended Year Ended 12/31/2021 12/31/2020 Year Ended 12/31/2020 Assets: Cash Accounts receivable Inventory $ 1,407 $ 336 $ 548 5,000 4,500 4,200 6,750 6,250 5,985 Prepaid expenses 3,820 4,100 4,200 Other current assets 1,700 1,600 1,200 Total current assets $ 18,677 $ 16,786 $ 16,133 Property, plant, & equipment 25,220 23,780 22,100 Less: accumulated depreciation 14,500 13,250 12,130 Net property, plant, & equipment 10,720 10,530 9,970 Other long term assets 4,000 3,500 3,500 Total Assets $ 33,397 $ 30,816 $ 29,603 Liabilities: Accounts payable $ 3,500 $ 3,200 $ 3,100 Accrued expenses 2,200 2,100 2,100 Deferred revenue 4,200 4,100 3,935 Income taxes payable 1,200 950 850 Total current liabilities $ 11,100 $ 10,350 $ 9,985 Long-term debt 6,500 7,500 8,700 Pension liability 6,720 5,840 5,150 Other long term liablities 2,575 1,826 1,548 Total liabilities $ 26,895 $ 25,516 $ 25,383 Common stock 2,000 2,000 2,000 Retained earnings 4,752 3,500 2,420 Comon shares in treasury (250) (200) (200) Total equity $ 6,502 $ 5,300 $ 4,220 Total Liabilities & Equity $ 33,397 $ 30,816 $ 29,603

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

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

12th Edition

978-0073526706, 9780073526706

More Books

Students also viewed these Accounting questions

Question

What is meant by planning or define planning?

Answered: 1 week ago

Question

Define span of management or define span of control ?

Answered: 1 week ago

Question

What is meant by formal organisation ?

Answered: 1 week ago

Question

What is meant by staff authority ?

Answered: 1 week ago