Total current liabilities

Non$-$current liabilities

Long$-$term debt

Other non$-$current liabilities

Total non$-$current liabilities

Shareholders' equity:

Contributed capital

Retained earnings

Total shareholders' equity

Total liabilities and shareholders' equity

Source: Apple Inc., Annual Report $2021.$

Assume that the following transactions $($in millions$)$ occurred during the next fiscal year

$($ended on September $24,2022)$:

a$.$ Borrowed $$20,393$ from banks due in two years.

b$.$ Purchased additional investments for $$94,550$ cash; one$-$fifth were long$-$term and

the rest were short$-$term.

c$.$ Purchased property, plant, and equipment; paid $$5,675$ in cash and signed a short$-$

term note for $$5,410.$

d$.$ Issued additional shares for $$1,105$ in cash.

e$.$ Sold short$-$term investments costing $$47,460$ for $$47,460$ cash.

$f.$ Declared $$4,431$ in dividends to be paid at the beginning of the next fiscal year.

Journal entry worksheet

Required:

Prepare a journal entry for each transaction. $($If no entry is required for a transaction$/$event$,$ se

$"$No journal entry required" in the first account field. Enter your answers in millions.$)$

Note: Enter debits before credits.

answer each one for the journal entry worksheet and explain the answer