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help on trial balance Orange Incorporated, headquartered in Cupertino, Callfornla, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessorles, and sells a varlety
help on trial balance
Orange Incorporated, headquartered in Cupertino, Callfornla, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessorles, and sells a varlety of related services. The following is Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). Assume that the following transactions (In millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,281 from banks due in two years. b. Purchased additional Investments for $22,400cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,586 in cash and signed a short-term note for $1,425. d. Issued additional shares of common stock for $1,484 In cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term Investments costing $19,023 for $19,023 cash. f. Declared $11,140 in dividends to be paid at the beginning of the next fiscal yearStep by Step Solution
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