E5-7 Reporting Cash, Cash Equivalents, and Restricted Cash [LO 5-5] Expedia repo

Question

E5-7 Reporting Cash, Cash Equivalents, and Restricted Cash [LO 5-5] Expedia reported total cash of approximately $1,470 million at September 30, 2013. Of this amount, $40 million was set aside to "fulfill the requirement of an aviation authority of a certain foreign country to protect against the potential nondelivery of travel services in that country" in the short term. Another $445 million was invested in money market funds and time deposits with original maturities of less than 90 days. The remaining $985 million was held in bank accounts. Expedia also reported $455 million in short-term investments (maturing in 90-360 days), $50 million of unearned revenue, $730 million of accounts receivable, $215 million of prepaid insurance, and $3,730 of goodwill. Show the current assets section of Expedia's balance sheet. TIP: Some items are not current assets. (Enter your answers in millions). EXPEDIA Balance Sheet (Partial) At September 30 (in millions)

Explanation / Answer

Expedia

Expedia

Balance Sheet current Assets cash and cash equivalent ( 1470-40) 1430 short term investment 455 accounts receivables 730 Prepaid insurance 215 Restricted cash (short term) 40 total of current Assets 2870

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