Mango Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players and sells a variety of related software and services. The following is Mango's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September) MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets! Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equiprent, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilitie Long-term debt Other noncurrent liabilities > Total liabilities Stockholders equity: Common stock (50.60001 per vive) Additional paid in capital $ 14,004 11,361 17,656 2,131 24, 102 69,250 131,546 20,844 12,658 $234307 $ 30,520 18,653 8,587 64,136 29,383 28,157 121,595 1 25,112 --- HULUAALUAL La Stockholders' equity: Common stock ($0.00001 per value) Additional paid in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity 1 25,112 87,598 112,711 $234, 307 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018) a. Borrowed $18,296 from banks due in two years. b. Purchased additional investments for $23,800 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant and equipment, paid $9,603 in cash and signed a short-term note for $1.440. d. Issued additional shares of common stock for $1,500 in cash; total par value was $1 and the rest was in excess of par value e. Sold short-term investments costing $19.038 for $19.038 cash. f. Declared $11,156 in dividends to be paid at the beginning of the next fiscal year. P2-5 Part 2 2. Post each transaction to the appropriate T-accounts (Enter your answers in millions.) Cash 14.004 Beg Bal Short-term Investments 11361 Beg. Bal 2. Post each transaction to the appropriate T-accounts (Enter your answers in millions.) Cash 14,004 Short term Investments Beg. Bal Beg Bal 11,361 End. Bal. End. Bal Accounts Receivable 17.656 Beg. Bal. Inventories 2.131 Beg Bal End. Bal End. Bal Other Current Assets 24 107 Beg Bal Beg Bal Long-term Investments 131,546 Other current Assets Beg. Bal. 24,107 Beg. Bal Long-term Investments 131,546 End. Bal. End. Bal Property, Plant, and Equipment 20,844 Beg. Bal. Other Noncurrent Assets 12,658 Beg. Bal End. Bal. End. Bal Accounts Payable 30,520 Beg Bal Accrued Expenses 18,653 Beg. Bal End. Bal End Bal Unearned Revenue 8,587 Short-term Notes Payable 6,376 Beg Bal Beg Bai Dividends Payable Beg. Bal Long-term Debt 29,303 Beg. Bal. End Bal End. Bal Other Noncurrent Liabilities 28.157 Common Stock Beg. Bal Beg. Bal. End. Bal End. Bal Additional Paid-in Capital 25.112 Beg Bal Retained Earings 87 598 Beg Bal End. Bal End Ball End Bal. End. Bal. Other Noncurrent Liabilities 28.157 Common Stock Beg. Bal. Beg Bal End. Bal End Bal Additional Paid-in Capital 25.112 Beg Bal. Retained Earnings 87 598 Beg, Bal End. Bal End. Bal
