create T-accounts for each balance sheet account and include thejanuary 30, 2004
ID: 2457749 • Letter: C
Question
create T-accounts for each balance sheet account and include thejanuary 30, 2004, balances, post each journal entry to appropriatet- accounts: dell------------------
Balance Sheet at January 30, 2004 Assets Cash - 4,317 SHort term investments - 835 Receivables - 3635 Inventories - 327 other -1519 Total - $ 10,633 Noncurrent assets Property, plant, equipment - 1517 Long term investments - 6770 Other noncurrent - 391 Total assets - $19311 Liabilities and Stockholders Equity Accounts payable - 7316 OTher short term obligations - 3580 =10896 Long term Liabilites - 2135 Stockholders Equity COntributed capital - 284 Retained earnings - 5996 Total = 19311 Assuming that following transactions (in millions of dollars)occurred during the remainder of 2004 (ending on Jan 28,2005) a. Issued additional shares of stock for $200 cash b. borrowed $30 from banks due in two years c. Purchased additional investments for $13000 cash; one fifthwere long term and the rest were short term d. Purchased property, plant and equipment; paid $875 cash and$1410 with additional long term bank loans e. lent $250 to affiliates who signed a six month note f. sold short term investments costing $10000 for $10000cash g. dell does not actually pay dividents, it reinvest itsearnings into the company for growth purposes. assume instead forthis problem that dell declared and paid $52 in dividends during2004 Balance Sheet at January 30, 2004 Assets Cash - 4,317 SHort term investments - 835 Receivables - 3635 Inventories - 327 other -1519 Total - $ 10,633 Noncurrent assets Property, plant, equipment - 1517 Long term investments - 6770 Other noncurrent - 391 Total assets - $19311 Liabilities and Stockholders Equity Accounts payable - 7316 OTher short term obligations - 3580 =10896 Long term Liabilites - 2135 Stockholders Equity COntributed capital - 284 Retained earnings - 5996 Total = 19311 Assuming that following transactions (in millions of dollars)occurred during the remainder of 2004 (ending on Jan 28,2005) a. Issued additional shares of stock for $200 cash b. borrowed $30 from banks due in two years c. Purchased additional investments for $13000 cash; one fifthwere long term and the rest were short term d. Purchased property, plant and equipment; paid $875 cash and$1410 with additional long term bank loans e. lent $250 to affiliates who signed a six month note f. sold short term investments costing $10000 for $10000cash g. dell does not actually pay dividents, it reinvest itsearnings into the company for growth purposes. assume instead forthis problem that dell declared and paid $52 in dividends during2004
Explanation / Answer
create T-accounts for each balance sheet account and include thejanuary 30, 2004
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