Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose the following items were taken from the 2022 financial statement of Texas instruments. Suppose the following items were taken from the 2022 financial statements

Suppose the following items were taken from the 2022 financial statement of Texas instruments.

image text in transcribedimage text in transcribedimage text in transcribed

Suppose the following items were taken from the 2022 financial statements of Texas Instruments, Inc. (All dollars are in millions.) $2,826 Accumulated depreciation-equipment $3,547 Common stock 164 Accounts payable Prepaid rent 1,459 Equipment Patents 6,705 2,210 Stock investments (long-term) Notes payable (long-term) 810 637 Debt investments (short-term) 1,743 Retained earnings 6,896 Income taxes payable Accounts receivable 128 1,823 Cash 1,182 Inventory 1,202 Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity.) TEXAS INSTRUMENTS, INC. Balance Sheet December 31, 2022 (in millions) Assets Current Assets Cash 1182 1823 164 Inventory 1202 Debt Investments 1743 Total Current Assets 6114 Property, Plant and Equipment Equipment 6705 Intangible Assets Stock Investments 637 Less +: Accumulated Depreciation-Equipment 3158 12819 Intangible Assets 2210 Patents 15029 Total Assets Liabilities and Stockholders' Equity Current Liabilities Accounts Payable 1459 Income Taxes Payable 128 Total Current Liabilities 1587 Long-Term Liabilities Notes Payable 810 Total Liabilities 2397 Stockholders' Equity Common Stock 2826 Retained Earnings 6896 Total Stockholders' Equity 9722 12119 Total Liabilities and Stockholders' Equity +

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

Financial Accounting Fundamentals

Authors: John Wild

7th Edition

1260247864, 9781260247862

More Books

Students also viewed these Accounting questions