The following items are taken from the 2006 balance sheet of Yahoo! Inc. (All dollars are in

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The following items are taken from the 2006 balance sheet of Yahoo! Inc. (All dollars are in thousands.)
Intangible assets ................... $3,374,379
Common stock .................... 5,292,545
Property and equipment, net .............. 1,101,379
Accounts payable ................... 109,130
Other assets ...................... 459,988
Long-term investments ................. 2,827,720
Accounts receivable ................ 930,964
Prepaid expenses and other current assets ......... 217,779
Short-term investments ................. 1,031,528
Retained earnings ................. 3,868,065
Cash and cash equivalents ............... 1,569,871
Long-term debt .................... 749,915
Accrued expenses and other current liabilities ....... 1,046,882
Unearned revenue—current ............. 317,982
Other long-term liabilities .............. 129,089

Instructions
Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2006.

Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented...
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...
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Related Book For  book-img-for-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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