Question
Nike, Incorporated, with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred
Nike, Incorporated, with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions, except for par value. a. Purchased additional buildings for $188 and equipment for $270; paid $402 in cash and signed a long-term note for the rest. b. Issued 90 shares of $2 par value common stock for $340 cash. c. Declared $145 in dividends to be paid in the following year. d. Purchased additional short-term investments for $7,616 cash. e. Several Nike investors sold their own stock to other investors on the stock exchange for $88. f. Sold $4,113 in short-term investments for $4,113 in cash. g. Borrowed $6,124 from a bank; signed a note due in 20 years. h. Repurchased its common stock for $3,107 in cash. Required: For each of the events (a) through (h), perform transaction analysis and indicate the account and amounts. Check that the accounting equation remains in balance after each transaction. Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on the accounting equation leave cells blank. Enter your answers in millions, (for example, 5.5 million should be entered as 5.5 rather than 5,500,000).
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