Below is a recent balance sheet for United Parcel Service (UPS), reformulate the balance sheet to calculate
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Current Assets: UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions) Cash and cash equivalents Marketable securities Accounts receivable, net Current income taxes receivable Other current assets Total Current Assets Property, Plant and Equipment, Net Operating Lease Right-Of-Use Assets Goodwill Intangible Assets, Net Investments and Restricted Cash Deferred Income Tax Assets Other Non-Current Assets Total Assets ASSETS LIABILITIES AND SHAREOWNERS' EQUITY Current Liabilities: Current maturities of long-term debt and commercial paper Current maturities of operating leases Accounts payable Accrued wages and withholdings Self-insurance reserves Accrued group welfare and retirement plan contributions Other current liabilities Total Current Liabilities Long-Term Debt and Finance Leases Non-Current Operating Leases Pension and Postretirement Benefit Obligations Deferred Income Tax Liabilities Self-Insurance Reserves Other Non-Current Liabilities Shareowners' Equity: Class A common stock (156 and 163 shares issued in 2019 and 2018) Class B common stock (701 and 696 shares issued in 2019 and 2018) Additional paid-in capital Retained earnings Accumulated other comprehensive loss Deferred compensation obligations Less: Treasury stock (0.4 shares in 2019 and 0.6 shares in 2018) Total Equity for Controlling Interests Noncontrolling Interests Total Shareowners' Equity Total Liabilities and Shareowners' Equity December 31, 2019 $ 5,238 $ 4,225 503 810 9,552 8,958 382 940 1,428 1,277 17,103 16,210 30,482 26,576 2,856 3,813 2,167 24 170 330 141 1,033 1,082 $57,857 $50,016 5,555 2,552 914 793 2018 $ 3,420 $ 2,805 538 1,641 15,413 21,818 2,391 10,601 1,632 1,282 1,437 2 3,811 2,075 7 150 9,105 (5,997) 26 (26) 5,188 3,047 810 715 1,522 14,087 19,931 8,347 1,619 1,571 1,424 27 8,006 (4.994) 32 (32) 3,267 3,021 16 16 3,283 3,037 $57,857 $50,016 Current Assets: UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions) Cash and cash equivalents Marketable securities Accounts receivable, net Current income taxes receivable Other current assets Total Current Assets Property, Plant and Equipment, Net Operating Lease Right-Of-Use Assets Goodwill Intangible Assets, Net Investments and Restricted Cash Deferred Income Tax Assets Other Non-Current Assets Total Assets ASSETS LIABILITIES AND SHAREOWNERS' EQUITY Current Liabilities: Current maturities of long-term debt and commercial paper Current maturities of operating leases Accounts payable Accrued wages and withholdings Self-insurance reserves Accrued group welfare and retirement plan contributions Other current liabilities Total Current Liabilities Long-Term Debt and Finance Leases Non-Current Operating Leases Pension and Postretirement Benefit Obligations Deferred Income Tax Liabilities Self-Insurance Reserves Other Non-Current Liabilities Shareowners' Equity: Class A common stock (156 and 163 shares issued in 2019 and 2018) Class B common stock (701 and 696 shares issued in 2019 and 2018) Additional paid-in capital Retained earnings Accumulated other comprehensive loss Deferred compensation obligations Less: Treasury stock (0.4 shares in 2019 and 0.6 shares in 2018) Total Equity for Controlling Interests Noncontrolling Interests Total Shareowners' Equity Total Liabilities and Shareowners' Equity December 31, 2019 $ 5,238 $ 4,225 503 810 9,552 8,958 382 940 1,428 1,277 17,103 16,210 30,482 26,576 2,856 3,813 2,167 24 170 330 141 1,033 1,082 $57,857 $50,016 5,555 2,552 914 793 2018 $ 3,420 $ 2,805 538 1,641 15,413 21,818 2,391 10,601 1,632 1,282 1,437 2 3,811 2,075 7 150 9,105 (5,997) 26 (26) 5,188 3,047 810 715 1,522 14,087 19,931 8,347 1,619 1,571 1,424 27 8,006 (4.994) 32 (32) 3,267 3,021 16 16 3,283 3,037 $57,857 $50,016
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SOLUTION To calculate Net Operating Assets NOA we need to subtract the noninterest bearing current l... View the full answer
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
Posted Date:
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