The following items were taken from the balance sheet of Nike, Inc. Instructions Perform each of the
Question:
The following items were taken from the balance sheet of Nike, Inc.
Instructions
Perform each of the following.
(a) Classify each of these items as an asset, liability, or stockholders' equity and determine the total dollar amount for each classification. (All dollars are in millions.)
(b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity.
(c) To what extent does Nike rely on debt versus equityfinancing?
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...
Transcribed Image Text:
1. Cash 2. Accounts receivable 2,120.2 3. Common stock 4. Notes payable 5. Other assets 6. Other liabilities S 828.0 890.6 146.0 1,722.9 2,081.9 7. Inventories 8. Income taxes payable 9. Property, plant, and equipmen 10. Retained earnings 11. Accounts payable $1,633.6 118.2 1,586.9 3,891.1 763.8
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a Assets Cash 8280 Accounts receivable 21202 Inventories 16336 Property ...View the full answer
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Related Book For
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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