Suppose the following items are taken from the 2014 balance sheet of Yahoo! Inc. (All dollars are

Question:

Suppose the following items are taken from the 2014 balance sheet of Yahoo! Inc.

(All dollars are in millions.)

Goodwill .............$3,927

Common stock.......... 6,283

Equipment............. 1,737

Accounts payable......... 152

Patents.............. 234

Stock investments (long-term)..... 3,247

Accounts receivable........ 1,061

Prepaid rent............ 233

Debt investments (short-term) .... 1,160

Retained earnings......... 6,108

Cash.............. 2,292

Notes payable (long-term) ..... 734

Unearned sales revenue....... 413

Accumulated depreciation—equipment. 201

Instructions

Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2014.

Balance Sheet
Balance 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...