Question
The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Hotel California for the 2013 fiscal year. (Certain amounts
The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Hotel California for the 2013 fiscal year. (Certain amounts have been replaced with question marks to test your understanding of balance sheets.) In addition, youre provided with the following information from an analysis of Hotel Californias financial position at the same date:
Current ratio = 1.440584
Acid-test ratio = 0.489143
Debt-to-equity ratio = 3.040706
Compute the missing amounts (rounded to the nearest $ in millions) in the Hotel California balance sheet.
Assets Current assets
Cash and equivalents $565
Accounts and notes receivable 49
9 Inventory 2,410 Other 175
Total current assets 3,649
Property and equipment, net $1,443
Intangible assets, net 1,285
Investments 596
Notes and other receivables, net 988
Other 973
Total non-current asssets 5,285
Total assets 8,934
Liabilities and Shareholders Equity
Current liabilities
Accounts payable $854
Accrued payroll and benefits ?
Other payables and accruals 996
Total current liabilities 2533
Long-term debt ?
Other long-term liabilities 1,915
Total long-term liabilities ?
Total liabilities 6,723
Shareholders equity
Common stock 1,136
Additional paid-in capital 3,490
Retained earnings 3,265
Treasury stock and other (-5,680)
Total shareholders equity 2,211
Total liabilities and shareholders equity 8,934
I seem to be stuck with getting Long- term debt figured out and from there i can figure out the rest. show your work please :)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started