Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 understinding of balance sheets). In addiditon, you're provided with the following information from an analysis of Hotel Californian's financial position at the same date: Current ratio = 1.440584, Acud-test ratio= 01.489143, Debt-to-equity ration = 3.040706. compute the missing amounts(rounded to the nearest $ in millions)in the Hotel California balance sheet.

Assets:

Cash and equivalents $565

Accounts and notes receivable ?

Inventory ?

Other $175

Total current assets ?

Property and equipment, net $1443

Intangible assets, net ?

Investments $596

Notes and other receivables, net $988

Other $973

Total non-current assests ?

Total assets $8,934

Liabilityies and Shareholders' Equity

Current liabilities

AP $854

Accrued payroll and benefits ?

Other payables and accruals $996

Total current liablilities $2,533

Long-term debt ?

other lon-term liabilities $1,915

Total long-term liablilities ?

Total liablilities ?

Shareholders' equity

Common Stock $1,136

Additional paid in capital $3,490

Retained Earnings $3,265

Reasury stock and other (-$5,680)

Total shareholders' equity $2,211

Total liabilities and shareholders' equity $?

Please show work for answers.

Thank You

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_2

Step: 3

blur-text-image_3

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

Wiley CPAexcel Exam Review 2018 Study Guide Auditing And Attestation

Authors: Wiley

1st Edition

1119480671, 978-1119480679

More Books

Students also viewed these Accounting questions

Question

Redo Practice Problem 58 using the EANPV approach.

Answered: 1 week ago