HW problem Ch1 prob40
	Nike
	Balance Sheet as of 31 May 2011
	(in Millions)
	Assets	Asset Amount	Liabilities and Stockholder Equity	Liab. Amount
	Cash	$ 1,955.00	Total Liabillities	$ 5,155.00
	Inventory	$ 2,715.00	Stockholder Equity	$ 9,843.00
	Property/Plant/Equip	$ 2,115.00		$ -
	Other Assets	$ 8,213.00		$ -
	Total Assets	$ 14,998.00	Total Liabilities & Stockholder Equity	$ 14,998.00
	Assume the following transactions occured the first 3 days in june, and prepare a balanche sheet similar to the exhibit shown here http://www.chegg.com/homework-help/Introduction-to-Financial-Accounting-11th-edition-chapter-1-problem-40P-solution-9780133251036 :
1	Nike acquired inventories for cash, $28.
2	Nike acquired inventories on open account, $19.
3	Nike returned for full credit, $4, sime unsatisfactory shoes that it acquired on open account in May
4	Mike acquired $14 of equipment for a cash down payment of $5, plus a 2-year promissory note of $9.
5	To encourage wider displays, Nike sold some special store equipment to New York area stores for $40 cash. The equipment had cost $40 in the preceeding month.
6	Clint Eastwood procuded, directed, and starred in a movie. As a favor to a Nike exec, he agreed to display shoes in a basketball scene. Nike paid no fee.
7	Nike disbursed cash to reduce accounts payable, $16.
8	Nike borrowed cash from the bank, $50.
9	Nike sold an additional common stock for cash to new investors, $90.
10	The president of the company sold 5k shares of his personal holdings of Nike stock thorugh his stockbroker