Suppose the following items are taken from the 2017 balance sheet of Yahoo! Inc. (All dollars are

Question:

Suppose the following items are taken from the 2017 balance sheet of Yahoo! Inc. (All dollars are in millions.)

Goodwill ............................................................. $3,927

Common stock ........................................................ 6,283

Equipment .............................................................. 1,737

Accounts payable ...................................................... 152

Patents ................................................................... 234

Stock investments (long-term) ...................................... 3,247

Accounts receivable .................................................. 1,061

Prepaid rent .............................................................. 233

Debt investments (short-term) ...................................... 1,160

Retained earnings .................................................... 6,108

Cash ................................................................... 2,292

Notes payable (long-term) ............................................ 734

Unearned sales revenue ............................................... 413

Accumulated depreciation-equipment 201

Instructions

Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2017?

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...