Suppose the following items are taken from the 2022 balance sheet of Yahoo! Inc. (All dollars are
Question:
Suppose the following items are taken from the 2022 balance sheet of Yahoo! Inc. (All dollars are in millions.)
Instructions
Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2022.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Goodwill $3,927 Common stock 6,283 Equipment Accounts payable 1,737 152 Patents 234 Stock investments (long-term) 3,247 1,061 Accounts receivable Prepaid rent Debt investments (short-term) Retained earnings Cash 233 1,160 6,108 2,292 Notes payable (long-term) Unearned sales revenue 734 413 Accumulated depreciation-equipment 201
Step by Step Answer:
2292 1160 1061 233 3247 1737 201 3927 234 152 413 734 6283 6108 Current assets C...View the full answer
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Related Video
Unearned revenue is money received by an individual or company for a service or product that has yet to be provided or delivered. It can be thought of as a \"prepayment\" for goods or services that a person or company is expected to supply to the purchaser at a later date. As a result of this prepayment, the seller has a liability equal to the revenue earned until the good or service is delivered. This liability is noted under current liabilities, as it is expected to be settled within a year.
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