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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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