IS Weandt, Accounting Principles, 13e Question 15 Meng, Inc. purchases 1,000 shares of its own previously issued 5 par common stock for $12,000. The treasury stock purchased is resold by Meng, Inc. for $16.000. What effect does this transaction have on (a) Net income (b) Total assets y Total paid in capital Total stockholders' equity (d) Click if you would like to show Work for this questions Open SK LINK TO TOME O Type here to search Question 18 How many shares of common stock did Apple have outstanding at September 28, 2015, and at September 29, 20147 (Enter your answers in millions. Round answers to decimal places, e CONSOLIDATED BALANCE SHEETS In milions, cept number of shares which are reflected in thousands and parale September 20 September 27, 2015 2014 ASSETS Current soos Cash and cash equivalents $ 21.120 $ 13,844 Short-term marketable scurtos 20,481 11.233 Accounts receivable, loss lowances of $82 and respectively 16,849 17.460 Inventories 2,349 2.111 Deferred taxa 5,546 Vendor non-traderecevable 13,494 9.750 Other current assets 9.539 0.806 Total current 8.378 68.531 Long-term marketable securities 164 065 130.162 Property.plant and equipment, not 22471 20.624 Goodwill 5,116 4,616 Acquiredintangible sot, net 3.893 4.142 Other asso 5.556 3,764 Total assets 290 470 $ 231.839 4.318 LIABILITIES AND SHAREHOLDERS' EQUITY: $ Current abilities: Accounts payable Acord expenses Derforadove Commercial paper Current portion of long-term debe Total contabilit Deferred revenue, non-current Long-term debe Other non-current liabilities Total Commitments and contingencias Shareholders equity 36.490 $ 25.181 8.00 8.400 2.500 30,610 3,624 53.463 33.21 171.124 30,106 18.453 8.491 6.306 0 63.440 3.001 28.087 24.88 120.292 o Type here to search i OURCES Long term marketable securities Property.plant and equipment, not Goodwill Acquired intangible sets, not Other assets Total assets 164.066 22.471 5,116 3,893 5.556 290,479 130,162 20.624 4,616 4,142 3,764 231.839 $ LIABILITIES AND SHAREHOLDERS' EQUITY: $ $ Current liabilities: Accounts payable Accrued expenses Deferred revenue Commercial peper Current portion of long-term dett Total current abilities Deferred revenue, non-current Long-term debt Other non-current liabilities Total abilities Commitments and contingencies Shareholders' equity Common stock and additional paid in capital, $0.00001 per value 12,600.000 shares authorized 5,578,753 and 5,866,161 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income Total shareholders' equity Total abilities and shareholders' equity 35.400 25,181 8.940 8.400 2.500 80,610 3,624 53,463 33.427 171,124 30,106 18,453 8.491 6,308 0 63,448 3,031 28,987 24826 120.292 27.416 92.284 (345) 110.355 290,479 23,313 87,152 1,082 111,547 231.839 $ $ September 24, 2015 September 25, 2014 Common stock shares millions millions Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT S Weygandt, Accounting Principles, 13e Help System Announcements Brief Exercise 13-02 At December 31, Sarasota Corporation reports net income of $410,700. Prepare the entry to close net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Click if you would like to Show Work for this question: Oren Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT Help System Announcements Brief Exercise 13-03 On May 10, Blue Spruce Corporation issues 2,050 shares of $10 par value common stock for cash at $20 per share. Journalize the issuance of the stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 10 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OP ACCOUNTS LINK TO TEXT