Question: This is wrong and not complete. what am I missing and what is the actual additional paid-in capital? Nike, Incorporated, with headquarters in Beaverton, Oregon,
This is wrong and not complete. what am I missing and what is the actual additional paid-in capital?
Nike, Incorporated, with headquarters in Beaverton, Oregon, is one of the worlds leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions, except for par value. Purchased additional buildings for $188 and equipment for $260; paid $406 in cash and signed a long-term note for the rest. Issued 100 shares of $2 par value common stock for $345 cash. Declared $145 in dividends to be paid in the following year. Purchased additional short-term investments for $7,616 cash. Several Nike investors sold their own stock to other investors on the stock exchange for $90. Sold $4,413 in short-term investments for $4,413 in cash. Borrowed $6,064 from a bank; signed a note due in 20 years. Repurchased its common stock for $2,987 in cash. Required: For each of the events (a) through (h), perform transaction analysis and indicate the account and amounts. Check that the accounting equation remains in balance after each transaction. Note: Enter decreases to an element of the balance sheet with a minus sign. If no impact on the accounting equation leave cells blank. Enter your answers in millions, (for example, 5.5 million should be entered as 5.5 rather than 5,500,000).
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