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Prepare a balance sheet for Apple Inc. as of September 30, 2023, based on the following information: Cash: $50,000 Accounts Receivable: $100,000 Marketable Securities: $70,000
Prepare a balance sheet for Apple Inc. as of September 30, 2023, based on the following information:
- Cash: $50,000
- Accounts Receivable: $100,000
- Marketable Securities: $70,000
- Inventory: $30,000
- Property, Plant, and Equipment: $500,000
- Accumulated Depreciation: ($100,000)
- Accounts Payable: ($80,000)
- Notes Payable (due within 1 year): ($40,000)
- Bonds Payable (due after 1 year): ($200,000)
- Common Stock: $150,000
- Retained Earnings: ?
Requirements:
- Present the assets and liabilities in their respective categories.
- Calculate the total assets.
- Determine the total current liabilities and total long-term liabilities.
- Compute the total shareholders' equity and ensure the balance sheet balances.
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