Question: Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, for three
Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, for three recent years follow, (a) Compute the missing balance sheet amounts for each of the three years shown Current Long-term Total Stockholders Equity Current Long-term Total Liabilities Liabilities Liabilities (5 millions) Assets Assets Assets 2010 0 530,156 5 0 $8.050 $14,139 $12,215 5 12.240 516,017 15,862 2011 0 5441 10,313 0 19,376 20,246 2012 0 33.876 6.200 9,636 15,836 0 (b) What types of accounts would we expect to be included in current assets? In long-term assets? b. Which of the following would be included amount 3M's current assets? Note: Next to each item, select yes or no to indicate whether the item is a current asset or not. Item Current Asset 1. Cash and cash equivalents 2. Property plant & equipment 3. Inventory 4. Accounts payable e 5. Marketable securities 6. Goodwill 7. Accrued expenses ed 8. Prepaid expenses c. Which of the following would be included among 3M's long-term assets? Note: Next to each item, select yes or no to indicate whether the item is a long-term asset or not. Item Long-term Asset 1. Property plant & equipment 2. Accounts payable 3. Intangible assets 4. Work in process 5. Goodwill e
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
