Question 1

Note: General Journal input answer options:

No journal entry required

Accounts payable

Additional paid-in capital

Cash

Common Stock

Dividends payable

Inventories

Long-term debt

Long-term investments

Other current assets

Other noncurrent assets

Other short-term obligations

Property, plant and equipment

Receivables and other assets

Retained earnings

Short-term investments

Short-term notes payable

Question 2

Note: Drop down options for first & last columns: (a) - (g)

Question 3

Note: General Journal input answer options:

Accounts payable

Accrued expenses

Additional paid-in capital

Cash

Common Stock

Dividends payable

Inventories

Long-term debt

Long-term investments

Other current assets

Other noncurrent assets

Other short-term liabilities

Other short-term obligations

Property, plant and equipment

Retained earnings

Short-term investments

Short-term notes payable

Unearned revenue

Question 4

Note: Drop down answer options

Current Assets:

Current Liabilities:

Stockholders' equity:

Total assets

Total assets

Total current assets

Total current liabilities

Total Liabilities and Stockholders' equity

Total stockholders' equity

______________________________________

Accounts payable

Accrued expenses

Additional paid-in capital

Cash

Common Stock

Dividends payable

Inventories

Long-term debt

Long-term investments

Other current assets

Other noncurrent assets

Other short-term liabilities

Other short-term obligations

Property, plant and equipment

Retained earnings

Short-term investments

Short-term notes payable

Unearned revenue

Question 5

Required information P2-5 (Algo) Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing the Balance Sheet, and Evaluating the Current Ratio LO2-2, 2-4, 2-5 [The following information applies to the questions displayed below.] 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). Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018): a. Borrowed $18,287 from banks due in two years. b. Purchased additional investments for $23,000 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,591 in cash and signed a short-term note for $1,430. d. Issued additional shares of common stock for $1,489 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,028 for $19,028 cash. f. Declared $11,146 in dividends to be paid at the beginning of the next fiscal year. Journal entry worksheet 6 Record the $18,287 loan from banks due in two years. Note: Enter debits before credits. Journal entry worksheet Record the purchase of additional investments for $23,000 cash with one-fifth being long-term and the balance being short-term. Note: Enter debits before credits. Journal entry worksheet Record the purchase of property, plant and equipment by paying $9,591 cash and signing a short-term note for $1,430. Note: Enter debits before credits. Journal entry worksheet Record the issuance of additional shares for $1,489 cash; total par value was $1 and the rest was in excess of par value. Note: Enter debits before credits. Journal entry worksheet Record the sale of short-term investments costing $19,028 for $19,028 cash. Note: Enter debits before credits. Journal entry worksheet Record the declaration of $11,146 in dividends to be paid during beginning of the next fiscal year. Note: Enter debits before credits. 2. Post each transaction to the appropriate T-accounts (Enter your answers in millions.) 3. Prepare a trial balance for the period ended September 29, 2018. (Enter your answers in millions.) 4. Prepare a classified balance sheet for Mango at September 29,2018 , based on these transactions. (Enter your 5. Compute Mango's current ratio for the year ending on September 29, 2018. (Round your answer to 2 decimal places.)