Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Scenario : Microsoft Corporation's balance sheet as of June 30th, 2024, contains the following account balances. Complete the table by calculating the total assets, total

Scenario: Microsoft Corporation's balance sheet as of June 30th, 2024, contains the following account balances. Complete the table by calculating the total assets, total liabilities, and shareholders' equity. Also, compute the debt-to-equity ratio.

Assets

Amount (USD)

Cash and cash equivalents

$80,000,000

Accounts receivable

$60,000,000

Inventory

$70,000,000

Property, plant, and equipment

$500,000,000

Investments

$120,000,000

Total Assets

$830,000,000


Liabilities and Shareholders' Equity

Amount (USD)

Accounts payable

$50,000,000

Notes payable

$30,000,000

Accrued expenses

$25,000,000

Long-term debt

$200,000,000

Total Liabilities

$305,000,000

Shareholders' Equity

$525,000,000

Total Liabilities and Equity

$830,000,000

Debt-to-Equity Ratio

0.58

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: Marshall B. Romney, Paul J. Steinbart

12th edition

132552620, 978-0132552622

More Books

Students also viewed these Accounting questions

Question

What questions do you have for us?

Answered: 1 week ago

Question

Under what conditions might a firm want to maintain a weak culture?

Answered: 1 week ago