The following information was taken from the February 26, 2011, balance sheet of Best Buy : (in
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(in millions)
Accounts payable .............$ 4,894
Accounts receivable ............ 2,348
Additional paid-in capital ........ 18
Cash ................. 1,103
Short-term investments ......... 22
Common stock ............. 39
Intangible assets ............. 2,587
Long-term liabilities .......... 1,894
Other current assets ........... 1,103
Other current liabilities ......... 3,769
Other equity .............. 863
Other assets .............. 966
Fixed assets .............. 3,823
Retained earnings ........... 6,372
Inventory ............... 5,897
Required
Prepare Best Buy's classified balance sheet at February 26, 2011. Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented... 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...
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Best Buy Inc Balance Sheet February 26 2011 ASSETS Current assets Cash 1103 Shortterm investments 22 ...View the full answer
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