The following items are from the 2006 balance sheet of Kellogg Company. (All dollars are in millions.)
Question:
The following items are from the 2006 balance sheet of Kellogg Company. (All dollars are in millions.)
Common stock ............$ 396.9
Other assets ............5,471.4
Notes payable—current ........1,268.0
Other current assets ......... 247.7
Current maturities of long-term debt ... 723.3
Cash and cash equivalents ....... 410.6
Other long-term liabilities .......1,571.8
Retained earnings ..........1,672.1
Accounts payable .......... 910.4
Other current liabilities .......1,118.5
Accounts receivable, net ........ 944.8
Property, net ............2,815.6
Inventories ............ 823.9
Long-term debt ..........3,053.0
Instructions
Prepare a classified balance sheet for Kellogg Company as of December 31, 2006.
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...
Step by Step Answer:
Current assets Cash and cash equivalents Accounts receivable net I...View the full answer
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
