Required information P2-5 (Algo) Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing the Balance Sheet,...

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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). ASSETS Current assets: Cash MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) Short-term investments Accounts receivable Inventories $ 13,994 11,353 17,644 2,130 Other current assets 24,096 69,217 Long-term investments 131,466 Property, plant, and equipment, net 20,831 Other noncurrent assets 12,650 $234,164 Total current assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 per value) $ 30,501 18,641 8,581 6,372 64,095 29,284 28,139 121,518 1 24 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). ASSETS Current assets: Cash MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) Short-term investments Accounts receivable Inventories $ 13,994 11,353 17,644 2,130 Other current assets 24,096 69,217 Long-term investments 131,466 Property, plant, and equipment, net 20,831 Other noncurrent assets 12,650 $234,164 Total current assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 per value) $ 30,501 18,641 8,581 6,372 64,095 29,284 28,139 121,518 1 24