JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS At January 3, 2021 and December 29, 2019 (Dollars in Millions Except Share and Per Share Amounts) (Note 1) Assets Current assets Cash and cash equivalents (Notes 1 and 2) Marketable securities (Notes 1 and 2) Accounts receivable trade, less allowances for doubtful accounts $293 (2019, $226) Inventories (Notes 1 and 3) Prepaid expenses and other receivables Assets held for sale (Note 18) Total current assets Property, plant and equipment, net (Notes 1 and 4) Intangible assets, net (Notes 1 and 5) Goodwill (Notes 1 and 5) Deferred taxes on income (Note 8) Other assets Total assets Liabilities and Shareholders' Equity Current liabilities Loans and notes payable (Note 7) Accounts payable Accrued liabilities Accrued rebates, returns and promotions Accrued compensation and employee related obligations Accrued taxes on income (Note 8) Total current liabilities Long-term debt (Note 7) Deferred taxes on income (Note 8) Employee related obligations (Notes 9 and 10) Long-term taxes payable (Note 1) Other liabilities. Total liabilities Commitments and Contingencies (Note 19) Shareholders' equity Preferred stock-without par value (authorized and unissued 2,000,000 shares) Common stock-par value $1.00 per share (Note 12) (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) Accumulated other comprehensive income (loss) (Note 13) Retained earnings Less: common stock held in treasury, at cost (Note 12) (487,331,000 shares and 487,336,000 shares) Total shareholders' equity Total liabilities and shareholders' equity See Notes to Consolidated Financial Statements 2020 13,985 11,200 13,576 9,344 3,132 51,237 18,766 53,402 36,393 8,534 6,562 174,894 2,631 9,505 13,968 11,513 3,484 1,392 42,493 32,635 7,214 10,771 6,559 11,944 111,616 3,120 (15,242) 113,890 101,768 38,490 63,278 174,894 2019 17,305 1,982 14,481 9,020 2,392 94 45,274 17,658 47,643 33,639 7,819 5,695 157,728 1,202 8,544 9,715 10,883 3,354 2,266 35,964 26,494 5,958 10,663 7,444 11,734 98,257 3,120 (15,891) 110,659 97,888 38,417 59,471 157,728 39 At the most recent balance date, the amount of cash that Johnson and Johnson expected to collect from its customers from credit sales was (in millions): O a. $82,584. Ob. $13,283. c. $13,866. O d. $13,576. 2 points Save Answer Which of Johnson and Johnson's balance sheet accounts represents future cash outflows for expenses already incurred? O a. Accounts receivable. O b. Accrued liabilities. O c. Od. Long-term debt. c. Prepaid expenses. The balance sheet account that represents the amount of cash Johnson and Johnson has paid in advance for goods and services is: a. Accounts payable. O b. Accounts receivable. c. Prepaid expenses. d. Accrued liabilities. 2 points Save Answer Based on Johnson and Johnson's current ratio (current assets / current liabilities), the company's liquidity has: (Round your following computation to two decimal places (5.6793 = 5.68). a. slightly increased from 2019 to 2020. O b. slightly decreased from 2019 to 2020. O c. stayed the same. Which of Johnson and Johnson's accounts increased when the company made a credit sale? a. Cash. O b. Inventories. Oc. Accounts receivable. C. O d. Accounts payable. When Johnson and Johnson collects an accounts receivable from a customer: a. accounts payable decreases. O b. total assets increase. O c. retained earnings increase. O d. net income does not change
