Worldwide Widget Manufacturing, Inc Balance Sheet as of December 31, 2015 and 20

Question

Worldwide Widget Manufacturing, Inc Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars) 2015 2014 2015 2014 Assets Current assets: Liabilities and Equity Current liabilities: Cash and marketable 427 322 Accrued wages and securities $ 309 257 taxes Accounts receivable a. 259 Accounts payable b. ? 381 s 492 $ 421 $1,182 $997 Inventory 815 797 Notes payable Total $1,542 $1,378 Total Fixed assets: Long-term debt: 1,934 Gross plant and equipment Less: Depreciation d. ? $2,817 Total 3,116 2,956 368 254 Stockholders' equity: $2,872 $2,563 Preferred stock $ 30 $30 Net plant and equipment (30 million shares) 300 Other long-term assets 521 48 Common stock and paid-in surplus (250 million shares) Retained earnings 1489 $1,819 $1,472 $4,935 $4.428 1.142 $3,050 Total Equity Total FA $4 935 $4428 Total liabilities Total assets and equity a. Accounts receivable for 2015 b. Accounts payable for 2014 c. Gross plant and equipment for 2015 d. Long-term debt for 2014 e. Common stock and paid-in surplus (250 million shares) for 2014 f. Total FA for 2015

Explanation / Answer

2015 2014 2015 2014 Assets Liabilities and equity Current assets: Current liabiliites: Cash and marketable securities 427 322 Accrued wages and taxes 309 257 AR (1542-(427+815)=$300 259 AP 381 997-(257+421)=$319 Inventory 815 797 Notes payable 492 421 Total 1542 1378 Total 1182 997 Fixed assets: Long term debt 1934 (2956-997)=$1959 Gross pland and equipment (2872+368)=$3240 2817 Total 3116 2956 Less:Depreciation 368 254 Stockholders equity Net plant and equipment 2872 2563 Preferred stock 30 30 Other long term assets 521 487 Common stock 300 1472-(30+1142)=$300 Retained earnings 1489 1142 Total FA (2872+521)=$3393 3050 Total Equity 1819 1472 Total assets 4935 4428 Total liabilities and equity 4935 4428

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