The following items are taken from the 2008 balance sheet of Yahoo! Inc. (All dollars are in

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The following items are taken from the 2008 balance sheet of Yahoo! Inc. (All dollars are in thousands.)
Intangible assets ............... $3,926,749
Common stock ................. 6,282,504
Property and equipment, net .......,.... 1,536,181
Accounts payable ...........,..... 151,897
Other assets ..............,... 233,989
Long-term investments ............ 3,247,431
Accounts receivable .............. 1,060,450
Prepaid expenses and other current assets ....... 233,061
Short-term investments ............ 1,159,691
Retained earnings .............. 4,968,438
Cash and cash equivalents ............. 2,292,296
Long-term debt ................. 733,891
Accrued expenses and other current liabilities ... 1,139,894
Unearned revenue-current ............. 413,224
Instructions
Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2008.

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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Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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